‘no jerk’ policy

  • 14 Dec 2011 at 1:13 PM

Is Bob Diamond Padding His Jerk-Firing Numbers?

As some of you may recall, last year in an interview with the Finanacial Times, Bob Diamond revealed the secret to Barclays success: “a no-jerks policy on hiring, taken seriously from the top executive suites on down.” Unfortunately, despite a rigorous interview process, some pricks still slip through. Deadly serious about not having time for these types, Diamond said last week that he does not hesitate to can their asses, in some cases boxing up their belongings himself. And yet. The numbers quoted by The Enforcer seem suspiciously high. Read more »

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: Read more »