Why is this place so dysfunctional. There is no focus on a unified strategy, this place is full of battles between the charlotte vs nyc management and they keeping changing plans or don’t have a focused strategy.
With the new CIB CEO coming in, is there any hope for this division improving ? I am worried we might see a lot of cuts given the lackluster performance for years.
D here in CIB. NYC is upping the hiring and CLT is winding down. two years timeframe all CLT will just be trade ops, no tech.
@fh+1jp8ebazj For spot equities, maybe. Not so much for FX and fixed income (and definitely not for derivatives).
@fh+1jp8ebazj .... and that is why the banks are first to use AI to automate this process. Once the system of records are known AI is used to rewire the enterprise. Been happening at evolved banks for months -- just started at the government. Information hoarders and brokers will be a thing of the past.
lol seriously anyone that’s been in the business long enough knows that 90% of the jobs at a sell side bank are basically admin. Even trading “enter order, watch algo, autohedge “ rinse repeat. Real brain surgery.
What job isn’t overpaid admin? CIB COO, compliance etc all the same
Market control is just overpaid admin.
When I saw the Markets “restructure” email recently I thought finally they were going to end the markets co-head situation. Nope, doubled down and made more co-heads underneath them. Only a matter of time until one or both are out, and then the trickle down turnover beneath them will really start, and hopefully Markets can actually get strategic and grow.
The thread a few weeks ago was right, there is a lot of toxicity and jockeying for position in Markets, Markets COO, and Markets Control. Some fresh leadership blood is needed across all these functions.
All groups are in same boat.
On the plus side, it's not nearly as poorly run as the current federal government. That's real incompetence.
CIB Markets in Charlotte, NC are a holdover from WF's acquisition of Wachovia. They were allowed to stay there. Now that Chainsaw Charlie and the real WF HQ is at Hudson Yards, there's no reason to have CIB in Charlotte anymore.
CIB = Corporate Investment Banking
Ive never understood why there are so many people within markets in Charlotte. What buy side clients are down there? 3 of the largest asset managers are located within blocks of the Hudson yards office.
What is CIB?