Using the reaction 58Ni(50Cr,α 2p) and the coincidence recoil distance Doppler shift technique, we determined picosecond lifetimes of high-spin states in 102Cd. The positive-parity yrast and yrare cascades evidence the competition and interplay of the two proton holes in the g9/2 orbit and four neutrons in the d5/2, g7/2, and h11/2 orbits, outside the Z=N=50 100Sn core. At positive parity, this interplay leads to multiplets of states in the spin range 6+-10+, some of which are connected by very weak E2 transitions. At higher spins, spin-aligned proton holes and neutrons lead to magnetic rotation. Energies and transition strengths when compared with the predictions of several shell model calculations reveal the high sensitivity on the model parameters.