Jeff Martz's 61-Day Career On Wall Street

Posted by John Carney, May 06, 2008, 1:21pm

It’s a story that’s now all too familiar. A young Wall Street hopeful begins a promising career only to find that its been cut short by a sinking economy and Wall Street losses. Here’s how Jeffrey Martz begins telling his story to the readers of the New York Times business section.

On Monday, Nov. 5, the New York press reported that a prestigious Wall Street house -- that happened to be my employer -- intended to lay off two-thirds of its investment banking staff of about 120. Since I was one of the last people to arrive and because big corporations tend to handle their personnel by the last-in-first-out method, it occurred to me that I would be smart to stand near the elevator. This prediction turned out to be accurate and on Wednesday, Nov. 7, my successful, but truncated Wall Street career of 61 days -- including three working Sundays -- came to an end.

Martz explains how he was fired by the head of the financial strategies group, who refused to look him in the eye until they shook hands for the final farewell. And from that moment on he saw not one of his supervisors nor any the folks who had recruited him to the firm, except for one accidental encounter as he packed up his belongings.

Martz, however, was fired not on Wednesday, November 7, 2007. He was fired on Wednesday, November 7, 1990. We found the story deep in the archives of the New York Times business section. It's somewhat heartening to remember that we've been through all this before. What would be even more encouraging would be if we could find out what ever happened to the then-young Martz. But after extensive investigation, we haven't found the guy. Anyone know where Martz is?*

*We're hoping he Googles himself frequently enough to find out that his story is once again being told. Hey, Martz, get in touch. tips@dealbreaker.com.

My 61-Day Career on Wall Street [New York Times]

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Posted in: Layoffs
Tags: Tales From The Mixed-Up Files Of DealBreaker

Comments

Posted by guest, May 06, 2008 1:33PM

He is now sporting blonde dreadlocks and living in Crested Butte CO, where he has spent the last 15 years following stints in Chamonix and Verbier.

Posted by guest, May 06, 2008 1:36PM

Throw us a bone Carney.....what did you do in Thailand? (when you weren't writing verbose postings about the rice markets)

smoke any opiates? any V.D. scares? there must be a least one f'd up story you can share....

Posted by guest, May 06, 2008 1:43PM

Seems likely that he's involved with this Latvian company:

http://www.vnafta.lv/?lang_id=1&menu_id=17

Posted by guest, May 06, 2008 1:43PM

At least this time will not be a repeat of the early 1990s recession.

Kudlow has spoken.

Posted by guest, May 06, 2008 1:44PM

3. Jeffrey Martz
Background: Jeffrey Martz is employed as a Senior Commercial Representative of the Vitol Group, specialising in the CIS, Baltics and Caspian regions. He has been employed with the Vitol Group since 1996
Born: 1968
Nationality: American
Qualifications: BA

Posted by guest, May 06, 2008 1:52PM

I've fallen and I can't get up...i'm at ubs....someone help me before IT shuts down my computer and security escorts me from the building...

Posted by guest, May 06, 2008 2:12PM

Very nice touch with the date of that story. Let NYT or dealbreaker do a current one and have the Russian do an update. Good stuff in the comment following for the guy.

Posted by blndebnker, May 06, 2008 2:27PM

Is there any way to score the internship in anticipation of a layoff?

Posted by Anal_yst, May 06, 2008 2:34PM

@ 2:27

theres one sure-fire way in any economy...

Posted by guest, May 06, 2008 2:35PM

I will bet anything that Jeff Martz has had, in the last 18 years, a happier, healthier, more fulfiling life than he would have had if he had stayed at the investment bank.

Posted by guest, May 06, 2008 2:38PM

Wrong. He's had just as much annoyance, put in just as many hours, at a fraction of the pay.

Posted by ab, May 06, 2008 2:40PM

I love how bankers suddenly say how great people end up after being fired whenever these job cuts hit. I don't doubt that some people are better off, but come on. If it sucks that much, why don't you quit today are get a jump start on that next, more rewarding career?

Posted by guest, May 06, 2008 2:46PM

@ 2:38. I call bullshit on him having put in just as many hours.

Posted by guest, May 06, 2008 2:51PM

Jeff's zipper actually got stuck. He has been in the bathroom of that investment bank for the past 18 years.

Posted by guest, May 06, 2008 3:03PM

ab... most guys are putting it in the bank until they can

Posted by blndebnker, May 06, 2008 3:10PM

Oh Anal_yst I know. I was hoping not to have to resort to that sort of thing just yet.

Posted by Anal_yst, May 06, 2008 3:13PM

@ blndebnker

Just find a (reasonably) cute Director/MD and go wild. Sure you're selling your soul, but you'll be doing that anyway

Posted by guest, May 06, 2008 3:15PM

@2:46 A big part of the mistique is to pretend that those hours are necessary and productive. We who have been know better. That in large part they're face work or merely a way to get a free dinner out of the firm.

Posted by guest, May 06, 2008 3:17PM

One of the "Kudlow Quotables" from Squawkbox around 7:15 was "We should just obliterate Iran".

That'll help Goldilocks fer suree.

Posted by guest, May 06, 2008 3:22PM

Their crude is largely unusuable, so I don't see how their presence is helping

Posted by blndebnker, May 06, 2008 3:23PM

Anal_yst - know of any offhand? I'd prefer they be good-looking. I have some standards.

Posted by Anal_yst, May 06, 2008 3:28PM

wowzers:

FRANKFURT (Dow Jones)--Deutsche Bank Chief Executive Josef Ackermann said
Tuesday the bank is set to expand its position as the world's second-largest
investment bank.
"We will continue to expand both in the U.S. and emerging markets," Ackermann
told the American Chamber of Commerce in Frankfurt.
The bank is equally looking into options to expand its retail business.
"Every takeover has to makes sense both strategically and for the
shareholders," Ackermann said.

Posted by guest, May 06, 2008 4:02PM

Not interesting but if he is the same one in my address book he is a Wall Street recruiter

Posted by HAM05, May 06, 2008 4:20PM

watch out for ze germans anal_yst, last time they mobilized...well we heard enough about that from ep

Posted by Anal_yst, May 06, 2008 4:34PM

the ball bearings are coming!!!!!

Posted by JorgeCad, May 06, 2008 6:00PM

Looks like Jeff Martz turned adversity into opportunity, or perhaps blind luck? ...not - read on.
He ended up in RU and LV at the exact right time, ie new economies embracing capitilism (well sort of) with oligarchs looking to hire anyone that had any remote I-Banking skills, coupled, of course, with local language and cultural skills.
Dude was just in the right place at the right time.
Read the dude made out like a bandit, based on his very limited experience. My guess, he is a billionaire (at the very least a multi-millionaire.)

sucks eh?
Jorge

Jorge

Posted by guest, May 07, 2008 10:44AM

He was an anlyst at Prudential Securities, nee Pru-Bache.

An Old Timer

Posted by guest, May 07, 2008 10:45AM

He was an anlyst at Prudential Securities, nee Pru-Bache.

An Old Timer

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