This is the first bold claim in a Financial Times article today on how Barclays Capital has done so well for itself over the last 14 years: “most investment banks claim to have a ‘no-jerk’ policy on hiring.” Of course, on occasion, said rule is overlooked. Not too many times, once, maybe twice at Goldman Sachs. But at BarCap? NEVER (“at BarCap the policy is taken seriously from the top executive suites on down.”) It’s just one of the many ways the firm keeps its people grounded and in doing so has been able to consistently make it rain. Others include: Continue reading »
Financial Times
And suck it, Gretchen Morgenson. Here’s the real man of the year.
Master of risk who did God’s work for Goldman Sachs but won it little love [FT]
The headline in the Financial Times blares, “Job data welcomed as markets await Fed.”
What job data, you might ask? Well, the great news that another 203,000 Americans lost their jobs last month.
Yes, yes, we understand that it’s the smallest number of job losses ADP has had to offer in a year-and-a-half. But the report was still a good deal worse than analysts expected. And it certainly offers some indication that the economic recovery–such as it is–hasn’t quite trickled down just yet.
But wait, there is some more good news from the ADP report: “Employment… is likely to decline for at least a few more months.”
