• 19 Aug 2009 at 9:57 AM

Money For Nothing

nomura.jpgPutting the doctrine of inevitable discovery to good use, Nomura has decided that it should not reward executive search firm Hogarth Davies Lloyd with “finding” employees that fell into their lap through the Lehman bankruptcy. In 2007, Nomura agreed to pay the headhunter £50,000/mo plus a minimum of 25% of the first year’s pay for each person Nomura retained. But in the era of trying to get something for nothing, Hogarth believes they should earn their standard fee for placing the executives Nomura took on anyway when they acquired Lehman’s Asian and European operations and is filing a lawsuit.

“There is a dispute about the extent of Hogarth Davies Lloyd’s role in the Lehman Brothers’ acquisition and the fee that is properly due,” said Stephen Sidebottom, Nomura’s head of human resources for Europe, in an e-mailed statement today. “The claim is misconceived and Hogarth Davies Lloyd is seeking a commercially absurd sum.”

By now you’d think executive search firms would know banks accept bailouts, governments provide them.

Comments (8)

  1. Posted by guest | August 19, 2009 at 10:06 AM

    Recruiters SUCK.

  2. Posted by guest | August 19, 2009 at 10:13 AM

    @1 gm SUCKS

  3. Posted by guest | August 19, 2009 at 10:16 AM

    “But in the era of trying to get something for nothing, Hogarth believes they should earn their standard fee for placing the executives Nomura took on anyway when they acquired Lehman’s Asian and European operations and is filing a lawsuit.”
    Your sentences run further than Forest Gump. Only difference is he won a ping pong contest and charmed the pants off of Nixon. You are just a full retard

  4. Posted by guest | August 19, 2009 at 10:17 AM

    Greg, you fucking imbecile. The stick showed up blue. You told me you were sterile!
    Little weasel!
    -Andrea
    http://static.open.salon.com/files/completely_miscellaneous_1061246167074.jpg

  5. Posted by guest | August 19, 2009 at 10:22 AM

    @4 = Greg’s mom trying to be incognito

  6. Posted by Anal_yst | August 19, 2009 at 10:27 AM

    I still don’t really understand why recruiting firms are so prevalent, seem more like leeches in many situations to me (esp for what they charge, sheesh!)
    and @3 just made me chortle, keep it up, I need a few good laughs

  7. Posted by guest | August 19, 2009 at 10:29 AM

    Greg, I’m going to put itching powder on your Sybian.
    -Jeff Macke

  8. Posted by guest | August 19, 2009 at 10:55 AM

    i always call some headhunters when my favorite hookers are booked for the night

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