In mid-February, a group of current and former Pimco employees were invited to a private farewell party for Mohamed El-Erian on March 10, to mark his impending departure as chief executive of the world’s largest bond fund. El-Erian soon realized it was not a good idea, according to three sources who had received the invitations and are in contact with him…El-Erian postponed the party soon after the March 6 Reuters report, suggesting to colleagues and friends that he did not want things to become awkward for his guests, and out of respect for the tense situation at Pimco, the sources said. [Reuters, earlier]
parties (or lackthereof)
RBS has neither the money nor the reason to celebrate a job well done this year. Last night’s party in Stamford (at the office) was as disappointing as one could expect for a firm whose ass is owned by the UK government (except for the department that took theirs off-site to Foxwoods) and the celebrations across the pond will probably be just as bad, with only 10 pounds ($16) being spent on each employee. Obviously one would expect the people forced to attend these depressing events to be a bit upset, though presumably no one else would give a fuck. Except one. Party planner Di Bailey was asked for her thoughts on the matter and bitch is pissed. She can’t conceive of how RBS could even dream of throwing a soiree on such a tiny budget and is so disgusted that she washes her hands of the whole situation. She wants nothing to do with this thing and until the bank allots the proper amount of money for the gala it so richly deserves, she suggests employees go ice skating.
Di Bailey, managing director at Planit Events Ltd., whose clients include HSBC Holdings Plc and Morgan Stanley, recommends employers spend about 80 pounds-a-head to ensure a “decent” party. Bailey said she couldn’t organize an event at a cost of 10 pounds-per-employee and recommended staff use the money to go ice-skating instead.
Merrill Lynch: Celebrate The Birth Of Christ And/Or Anniversary Of The BAC Integration On Your Own TimeBy Bess Levin
The hideous rumor that the opportunity for some legacy Merrill Lynchers to drunkenly grope each other in commemoration of JC and the Bank of America merger this year is apparently true, though it remains unclear as to why (and why the ruling was made so soon). Bank of America is presumably moving forward with its Ken Lewis Good-Bye Kegger.