RBS

As we have previously discussed, when one grows up in Greenwich, CT, there are certain expectations. Prep school, college, Wall Street, death. And in the beginning, Garrett Hoelscher did what he was told. He attended the Brunswick school, then Emory and did a summer internship at RBS. But he was just going through the motions. “Nobody there [was] passionate,” he told Business Insider. “It’s all just numbers and spreadsheets.” (Also, people smoked “two packs a day,” which offended him.) But he still took a job working at Wedbush Investments in LA, where the unhappiness followed. It wasn’t until a transformative weekend in Stratton, VT that decided he needed a change. And that’s when Hoeslscher, whose favorite quotation on Facebook is “Don’t talk about it; be about it,” came up with a plan. To sell waffles in Aspen. Read more »

Several weeks back, we mentioned that RBS had plans to cut about ten percent of the Stamford staff, with the timing being unclear though before the end of the year. Today we received a bit more info, namely that the assumption inside is that the bank will be cutting people slowly (just a few people have been let go so far), possibly to avoid press. Read more »

  • 13 Oct 2010 at 11:45 AM

Layoffs Watch ’10: RBS

The Queen has a holiday surprise for her corgis. Ten percent of them are getting fired. Read more »

  • 30 Aug 2010 at 12:30 PM

Challenge Extended

“Just putting it out there: another one of Stamford’s gifts to the world is Jimmy’s aka The Seaside Tavern. Jimmy’s has introduced Seaside’s challenge – 25 sliders, pitcher of beer, and fries. Some guy tried it the other night and only got through 18 (pics enclosed). I’m thinking there should be an RBS & UBS playoff to battle the King and his fleeced armada. Any takers?” Read more »

“I cannot explain why I did this, it is completely out of character and I certainly did not intend to cause any distress to Lola or her owners,” Mary Bale, the woman who threw a Tabby cat in the trash last week, said. “It was a split second of misjudgment that has got completely out of control.” Miss Bale said she was just walking home on Saturday when she saw the cat and decided to play with it. But she told the Sun that she “suddenly thought it would be funny” to put it in the bin. “I did it as a joke because I thought it would be funny. I never thought it would be trapped, I expected it to wriggle out,” she said. A spokesman for the RSPCA said: “This is now an RSPCA case. Mary Bale has been interviewed by an RSPCA inspector and a full file is being compiled and will be sent for review by the prosecutions department.” While Miss Bale admitted she should not have done it, she said she did not deserve to be ‘hated’ by everyone and assumed the cat would find its own way out of the bin. Her mother also insisted the unmarried bank clerk “loved cats”- and had even kept them as pets as a child. [DM via BI]

So, some things happened this weekend and it’s all really crazy and wow I can’t even get into it I’m shaking so hard even hearing it second hand. I’m just going to let the victim speak for himself. Promise me you’ll brace yourselves, okay? It’s that bad. Read more »

RBS CEO Stephen Hester recently stated that rebuilding an investment bank from a pile of rubble is a nearly impossible task but if anyone can to it, it’s him. He’s got a plan, a five-year plan in fact, for doing so and you know what that plan doesn’t involve? Sending any of his employees or clients out to enjoy a little football and maybe some drinks. Between you and me, it’s not something Steve-o wants to do but apparently buying a few mill in tickets what with the whole assholeway being ownedway by the axpayertay wouldn’t look good, according to one killjoy (“If a bank was buying $6 million to $10 million (of hospitality) for an event before 2007, and they get state support today, they can’t come to the World Cup and get tickets,” Peter Csanadi said in an interview. “They just can’t do it.”) But turn those frowns upside down because guess what? The World Cup is coming to RBS! Read more »

  • 27 May 2010 at 2:40 PM

Latest Instance Of BS At RBS

Last week, RBS’s Stamford trading floor lost power for about ten minutes. Many wondered what was going on, and with no official word from the bank, imaginations ran wild. Had someone kicked over some crucial cords? Was RBS going out of business? As is our wont, we printed a rumor from the inside about what had happened, a rumor which, in fact, turned out to be true. Someone had clogged a toilet on 7th floor and it leaked into a communications closet on 6th floor (trading). Before I get into what senior management’s reaction was to that story, let’s take a few moments to backtrack and offer a little color on how we got to this place. Read more »

I mean…

“Trading floor over here lost power temporarily (I think computers and phones only) for about ten minutes. Rumor is someone clogged a toilet on 7th floor and it leaked into some communications closet on 6th floor (trading). They haven’t confirmed but that seems to be the persistent belief.”

If only CNBC were broadcasting from there live today, Steve Liesman could confirm! (And maybe lend a hand. I don’t know why, but SL seems like a guy who travels with his own plunger.)

  • 13 May 2010 at 9:45 AM

Gird Your Loins, Stamford

CNBC has stormed the castle. One of the queen’s bitches writes:

Don’t know if anyone’s noticed but CNBC is broadcasting from the den of mediocrity AKA the RBS trading floor throughout the day. We were told to be on our best behavior and to dress better than we’re paid. Tune in and watch us put the L in PnL!

Friday night, a bunch of chippies patted themselves on the back for successfully predicting the outcome of the British elections (and winning an undisclosed sum) by spending £60,117.40 on drinks at London nightclub Merah. They started with the most expensive bottle of champagne (a “Methuselah of vintage Cristal at £36,000″), which, not surprisingly, garnered them some fans. Read more »