Bank Of Amerillwide: Generating Revenue Begins By Getting To The Office On Time

Author:
Publish date:

In these tough times, every so often, it's best to restate one's goals (making money), and achieve stated goals by getting back to basics.

From: [redacted]
Sent: Wednesday, April 15, 2009 3:22 PM
To: +MER IBK (US-NY-E&P)
Subject: New Staffer in town
Team-
Wanted to formally announce [redacted] as the new Associate and Analyst staffer. In addition, wanted to thank [redacted] for his service to the group. [redacted] was dedicated, professional and fair. I know that he will provide [redacted] with a smooth transition. Given the uncertain times we continue to live with, I think it is critical for everyone to agree to a set of guidelines for staffing that will accomplish all of our objectives:
* generating revenue
* working on interesting transactions for clients
* building our franchise and reputation
* working in an environment that is pleasant and rewarding
To that end, we have designed some principles that we hope will align with these objectives. Given the change in staffing and our move to OBP, we have the opportunity to make a clean break from some practices of the past that have not worked so well and to also be mindful of the current market environment in the way we allocate resources going
forward. Below are the general guidelines to which I would like to ask all of you to adhere. Certainly, business and clients come first so if the situation warrants we can always make exceptions - but these exceptions will be granted on a case-by-case basis.

Responsible: Associates / Analysts
- Work day starts at 9:00AM for everyone, exceptions can be granted based on advance explanatory email to team members and staffer.
- Please send an email to the staffer if you are at work past midnight.
Responsible: Staffer
- Any staffing requests received on Friday will be staffed out on Monday, unless specifically approved by me on an exception basis
- Weekend work for associates and analysts should be limited to one day, unless specifically approved by staffer on exception basis
- Work past midnight should be limited to 2 days prior to deadline for strategic pitches and live deals only (the "some dude" rule)
- Staffing update will be provided at each Monday morning meeting
Responsible: Officers
- All staffing requests should include details of project, work involved, timing and resources requested
- Size of books for pitches should not exceed 40 pages including appendix. Live deals can be an exception, but general objective of thin books should be kept in mind.
- Use conservative judgment in defining scope of presentation and analytics (keeping in mind workload vs. incremental benefit).
- Product groups (M&A, LevFin, CorpFin, etc.) to provide resources for any product-specific pitches/projects. Requesting officer should indicate to staffer who is/will be assigned from product side. Exceptions will require group head approval.
- Unless staffing requests are made through staffer, project work will not be counted in that junior person's workload for staffing purposes. Please route all work requests, however minor, through the staffer.
- When possible, please provide guidance to junior team members as far in advance of the meeting as possible to allow them to start the materials earlier.
Please stop by my office tomorrow or Friday so we can discuss this and make sure that we are all on the same page. We are all under a great amount of stress, exacerbated by the market uncertainties. In this environment we can only thrive if we all have shared purpose and aligned goals. I intend to provide each of you with development opportunities and market-based compensation.

Related