Only in that senior people the bank worked hard to recruit are quitting en masse. Otherwise, it’s great. Read more »
Deferring ‘Significant’ Amounts Of Compensation, Placing Caps On Bonuses Not Working Out So Well For BarclaysBy Bess Levin
Repentant British Banks Forcing Clients To Transport Themselves To Olympics, Stay In What Is Basically The Equivalent Of Motel 6, Drink Olde EnglishBy Bess Levin
Time was, working on Wall Street meant going to great lengths to lavishly entertain clients whose business you wanted to win or keep. Client wanted to party on a yacht with forty Brazilian hookers? You made it happen. Client wanted Jay-Z to perform at his son’s Bar Mitzvah? You were on it. Client wanted you to manipulate Libor while simultaneously hand feeding him grapes? All you wanted to know was red or green.
Whatever they wanted you delivered and then some and the best part was nobody said anything about it. Nobody judged, nobody protested, nobody wondered if flying to Hyōgo Prefecture to personally slaughter a cow and bring it back with you in business class so the client’s dinner would be fresh was the best use of company money. Then you nearly take down the global financial system and have to be bailed out by the government and all of a sudden it’s like people think they have the right to count your (or in the case of banks still partially owned by the UK, their) money.
So you scale back the big outings. You make less of a spectacle. Should’ve be enough to get ‘em off your backs, only it’s never enough with these people. They’re not happy until you’re taking clients to Applebee’s and suggesting getting one appetizer and splitting an entrée, or inviting them to major international sporting events and then denying them black car service, putting them up in relative dumps, and making them drink malt liquor. Which is more or less what one bank is doing. Read more »
Does The British Business Lady Who Just Felt Really Passionately About Her Clients Having Drinks, Cigarettes, And Pet Names Deserve A Second Chance?By Bess Levin
Gang, something’s come up in across the pond that needs our immediate attention. I’ll get right to it: at issue is whether or not “high powered financial adviser” Amanda Daughters should be allowed to have her job back at Aqua Financial Solutions, the firm she founded and was fired from by the chairman a couple years back. She’s currently appealing the decision but ahead of hearing what an employment tribunal has to say, why not give Daughters a trial by jury of her peers? Here’s the rub: Read more »
The Queen did want to acknowledge all the work he’s done, though, so she threw the government worker a bone he can collect a few years from now. Read more »
Apparently the Queen has had to let some people go. Read more »
Rebecca Rickwood is a 15 year-old girl living in the UK whose name should make you quake in fear. What about a 15 year-old girl could you possibly have to be afraid of? How about the fact that she could whip up a spreadsheet in the time it takes you to fill out your first cell, and could have your job and the jobs of 50 of your colleagues if she wanted? Read more »