Recent events might have had you thinking otherwise, but Credit Suisse does more than just layoff its employees– sometimes it promotes them, too! Earlier this morning, in fact, the Swiss bumped a whole bunch of guys and girls up to managing director. And even though it’s not grundle-to-face level exciting, it’s still something. Read more »
Contrary to popular belief, not all news is bad news at Citigroup. Yesterday 122 employees were named Managing Directors and while some might say that the only Wall Street promotion news worth reporting is that of Goldman Sachs, Citigroup is a real bank, too, so let’s all take a moment and give it up for them. It’s not as exciting as winning an iron-pumping sessions with Mike Corbat, but it’s something.
Unlike the life-changing partnership ritual that takes place every two years, the managing director promotions, announced today, are more of a light pat on the ass that says, you’re doing a pretty okay job so far, but don’t get cocky. You’ve graduated from VP (a title which is now, amazingly, defined as “the level attained by the disgruntled former employee Greg Smith”), and that’s something to be proud of, but stay hungry for the reach-around. Read more »
It’s not as exciting as Partner Day at Goldman Sachs, where in the basement of 200 West, blind-folded and naked, everyone pricks their finger, rubs the blood together, and pledges their devotion to the firm and its huge-ass profits, or even MD-MS day of years past, which included a pat on the ass and John Mack’s southern drawl, but it’s something. [Deal Journal via FINS]