Today’s big day of bank earnings calls starts kind of small with Greenhill’s first-ever quarterly results call. The M&A boutique put out results early after some worries about managing director departures.
Turns out that was no problem. CEO Scott Bok explained that there are four reasons MDs leave Greenhill:
1. A carefully planned out transition of responsibilities. Nothing to see here.
2. Sometimes, “we ask people to leave because they weren’t successful with us,” which is just the way of the world.
3. They’re not successful and figure it out on their own, leaving voluntarily before Scott Bok has to call them into his office and explain that anyone who ever built an empire or changed the world sat where they’re sitting right now though not necessarily literally at Greenhill.
4. They get hired away by competitors who’ll pay them “more than their productivity with us warrants.” Which means that when other banks poach MDs, that’s a win, because it’s not going to work out for them anyway and we just don’t want to be associated with that kind of failure.
Bok says that the recent MD departures have had no impact on the pipeline but will reduce fixed comp expenses. So for those who are left, “it will be a good year to be at Greenhill.” Not sure we’ll hear the same from GS and BAC today.
Greenhill & Co. Reports Second Quarter Earnings Per Share of $0.69
One of the problems with having one’s head stuck in the sand is it some how gets in places like the ears,u00a0nostrils, etc. u00a0And is a bitch to get it all out… u00a0
Fucking employers!
UBS CEO: ditto.
And not only our competitors, Starbucks and Walmart are overpaying too.
Scott Bok: Your resume says you minored in French Culinary Arts. Most students work the frier at KFC. You busted tables at Il Picatorre to support yourself. Then you got out of college and started working here. How much did they pay you to give up on your dreams? Bob: Twenty seven thousand a year. Scott Bok: At what point were you going to stop and go back to what made you happy?
UBS CEO: u00a0And Jos. A Bank shirts are totally just as good as Thomas Pink. u00a0Everyone else is just overpaying.
step 1: lose employeesnstep 2: ?nstep 3: profits
Yeah, but would you hire Precious?
CL just won the internet here.
Not sure this is the right forum for a George Clooney quote, but hey
You’re a Lousy kindergarten teacher! I saw the finger paintings you bring hone–they suck!nu00a0nIu2019m Sorry. I didn’t mean that. They’re excellent finger paintings, Please don’t go.nu00a0nGood! Get the hell out of my Life! Who needs you? Beat it!nu00a0nIu2019m sorry. I didn’t mean that.nu00a0nI just yell cause I get so scared. Scared of being a nobody. Why don’t you come back upstairs, honey?nu00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0u00a0 nI’II give you the old snoochy-snoo kissy-wissy.nu00a0nI want to kiss you all over, and over and againnu00a0nI want to kiss you all over, Till the night closes innu00a0nTill the night closes in…
Bogus comment, but….you are right about your mom getting some,u00a0except it wasn’t a 17 inch, it was only 8.5′, and it wasn’t Toshiba it was Tyrone.
Stop treating your employees like eggs!nn/Food Network Quant
lay off the weed Abe
At the age of 11, I purchased a $180 TV for my brother and charged him $10 a week for 25 weeks.
And we did not fuck up by hiring you in the first place.u00a0 We are perfect.u00a0 We will last forever.
George Clooney as Ryan Bingham.
Great story, brah.
I wonder what ever happend to that kid, I wonder if he got that dream Goldman Internship he was looking for.u00a0
Thomas Pink?nnoh so you work at Citi
Thomas Pink?nnoh so you work at Citi
really? You must be either a really old dude or a 22 year old analyst to miss that reference. I’ll give you a hint, there used to be a Jewish comedian that was pretty funny but now has become a parody of himself. He recently starred in a movie ‘funny people.’u00a0
Anyone that pays their employees in anything other than broken promises is by definition overpaying.nn-UBS Compensation Committee
Thanks i love your article about 20 Turns Crisis in Congress
Intriguing subject material jogs my memory of some other jewel. God heals as well as doctor takes the fee. Benjamin Franklin 1706 1790
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