If trading revenue down again, shouldn’t bank lay off more Trading Managing Directors? Shouldn’t traders hold accountable for their P&L? Shouldn’t those expensive trading MDs who don’t make money be fired? Back when trading make money, only traders benefit. But when trading incurred big loss, entire bank suffered and other division paid. Not to mention many trading managing directors are here because of nepotism rather than business results. If they can’t bring more revenue, why don’t bank replace them with cheaper hardworking Directors?
48 replies (most recent on top)
To all of those impacted tomorrow don't forget to checkout your local meetup to celebrate a better life.
Counting down Sep18
Q3 is almost there
Volcker relief makes trading great again!
Nothing like clock blocking first thing in the AM
@Bhql are you one of those incompetent traders?
I agree. To be honest I kind of find your passion kind of s-xy as well.
@Biaq you don’t need to create revenue if your in risk doing risk management. You do need to create revenue if you are a trader. If a trader keep saying he is doing risk management helping loss less money, then he should move to risk.
Trader is risk taking position. Compensation should purely based on P&L
I personally find risk management kind of s-xy.
Definitely worth the investment.
Trader needs to make money! Some traders argue that their risk management skills helped company lose less money. That’s b—s—
@Azci cost-performance ratio is a better KPI
OP is naïve
More compensation, more responsibility. Layoffs need to look at price-performance ratio. If one MD’s cost is equivalent to multiple VPs, and VP is actually doing work, then maybe lay-off should start from MD
OP is interesting
BAML Equities need less MD and Director. MD and Director need to deliver business results.
Need reduction in front office
Incompetent MD is everyone’s enemy. They are stealing your bonus
Short seller here.
Please keep everyone.
Too many directors and MDs create politics not revenue
BAC shareholder here. Compare its peers, BAML trading is less efficient. It needs to cut both headcount and expense
May OP’e dream come true
BAML like to give fat guarantee bonus to external hires. These directors or MDs arrive here but can’t grow revenue. In other banks, they will be fired but not in BAML. BAML is mercy.
Everyone in sales & trading need to prove how they directly or indirectly create revenue. If not, they should be moved to GT&O. If front office are doing same thing as we do, why they get paid more and experience less lay-off?
if trading headcount and compensation is not linked to p&l, how can you evaluate everyone else performance based on business result?
wait until summer end
BAML Equities is inefficient. Management need to cut expensive managers and managing directors who can’t create revenue.Some teams are too large. Today’s equities townhall Equities management shall give everyone an answer
Tough market. Q3 can be another hard quarter for trading
@hjvb Citi quadruple the number
Let's help MD.
BP 39 calls for Oct $0.89
- 3% dividend should attract some interest after the beat down the last couple of days.
Exdivi should be coming up next week
OP is day dreaming. Many MDs are still here even though they don’t deliver business results.
OP’s dream won’t come true. Many trading managing directors become MD not because they are good but because they have VIPs on their back. They are good at finding excuses and scapegoats. They can stay here even though they didn’t deliver business results because of nepotism.They should give seats to hardworking and aggressive VPs and directors.
I never see anyone as insistent as OP
OP, we all wish your dream come true
OP is closer to her / his goal
@hjvb OP’s dream come true!
I think you are about to get your wish:
@gtsy rates cut is bad for bank
@fejc we will see in two days
@eitl rates cut happen this week, let us what happen