Perhaps rightfully so, British bankers have had it up to here [here] with their government. The anger stems from freaky ass rules officials would like to impose on financial services chippies (for instance, rules that would cap top execs’ cash bonuses at 20 percent of total total compensation and proposals to tax the shit out of them) and the general feeling that the government is too mean to bankers. So sick are they that enough is enough. Led by Barclays chief John Varley and British Bankers Association head Angela Knight, a “fresh effort” has been waged to say “we’re not going to take this anymore.” How serious is this thing? Serious enough to warrant a code name involving wizards. Continue reading »
Barclays
“Bobtimistic” is how Rich Ricci, Barclays Capital’s new co- chief executive officer, described Diamond’s eternally upbeat attitude to assembled executives in September as he introduced a five- minute video send-off tribute, featuring a digital scrapbook titled “The Wonder Years,” with clips of Diamond hiking up his yellow suspenders in 1997 as he talked about making Barclays Capital a bond market leader; a mock image of him dressed like the children’s cartoon character Bob the Builder; his first pep talk to Lehman employees after acquiring the bankrupt broker-dealer in 2008; and photos of him with Rolling Stone Mick Jagger, soccer stars of London’s Chelsea Football Club and pro golfer Phil Mickelson. [Bloomberg]
Apparently yes. Continue reading »
When you have a guy– let’s call him Dick Fuld– who has spent a decent chunk of his career being referred to as “The Gorilla,” it’s difficult to impossible to expect underlings to assume that underneath the cold-blooded exterior beats the heart of sensitive soul. When this guy is known to speak in monosyllabic sentences and random outbursts, the notion that he wants to talk about feelings is a tough sell. When it’s common knowledge that, on at least one occasion, this guy has choked out the head of another company during a board meeting– and found nothing wrong with that– most people don’t figure it’s a wise idea to walk into this guy’s office, wrap their arms around him and tell him “it’s not your fault,” as he sobs and sobs, burying his face their your shoulder. That’s because most people didn’t really know Dick Fuld. One former employee though, Kevin White, was lucky enough to get a taste. Continue reading »
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