Morgan Stanley Moves From Assigning Employees Numbers (Like 1) To Adjectives (Like Fireable)
And the changes don't stop there!
Moving Forward, Goldman Sachs Will Address Employees By Their Actual Names Rather Than The Numerical Values They've Been Assigned
"Hey, 6, get over here" will be a thing of the past.
In Overhaul By Fed, Bank Examiners Whose Face Tats Read "I Heart Goldman Sachs" Will Be Questioned About Possible Conflicts Of Interest
Whereas previously, the response would simply be "Sweet vibe, where'd you get inked?"
UK Junior Bankers May Be Fired For Being UK Junior Bankers
The good news is they can always sue.
Firing Watch '15: People Found Guilty Of Speaking To/IMing With/Thinking About An Employee Of Point72 Asset Management
It's unclear if this new rule will remain a policy exclusive to BlueCrest Capital Management or if it will go industry-wide.
Clawbacks Watch '12: Deutsche Bank
Those shares DB awarded you to make up for the ones you were leaving with your old employer? They're going to need those back. Deutsche Bank has become the first global bank to introduce rules allowing it to strip staff of bonuses they earned at previous employers in the latest crackdown on pay. The largest European lender by assets has significantly tightened its bonus rules this year, enabling it to take back unvested shares that newly hired senior staff received in exchange for stock earned at another bank. The German banks’ stricter bonus rules, which came into force in January, apply to all new senior hires considered to be involved in the bank’s risk-taking, a spokesman said. These more than 1,300 “regulated employees“ include managing directors in the corporate and investment bank and members of the management committees of all other units. One recruitment expert warned the rule could make it harder for Deutsche Bank to attract senior talent as the potential job candidates might not be willing to put at risk stock earned at a previous bank. Deutsche Bank Turns Screws On Bonuses [FT]