Thread regarding Wells Fargo & Co. layoffs

Head of CIB Markets COO is a joke. When approached about any issues she tells the people to deal with it themselves then goes to their managers to complain about their tone so they're essentially unable to make any progress without worrying they're saying the wrong thing. So it's not going to get better anytime soon. Plan accordingly.

I'm not in Markets COO but someone who works with them often. Everyone knows most of the COOs can't function without their boss swooping in and hiring loads of consultants to do the real work and they constantly push back against other groups to the point where people now actively work around many of them. I think there's a new group that got stood up with more senior folks to finallly fix this space so hopefully that happens soon. Previous poster was right about the people not being great in this space, either in skill or attitude towards others.

I feel sorry for OP. I'm not sure what the CIB Markets Head COO was even going on about in that last town hall but she seems pretty lost. My guess is they are looking to automate much of the work or offshore and I've already started looking around because the people are generally pretty awful in this division.

Pretty boy Langley is a waste of space. His energy is spent on getting himself promoted rather than building the business. No surprise your team is clueless.

@aa+1jtvn87w3 not saying there isn’t plenty to worry about, but this is just pure fiction.

Markets co-heads will be gone within a year, of course there will be trickle down from that when it happens, but there is no reason to spin off CIB. It is one of the most profitable and efficient parts of Wells with plenty of upside potential that Charlie is focused on, including bringing in his people to run/fix.

Can we actually take action on that upside, doubtful, but that’s WF.

CIB is getting spun off, either to be on its own or to a potential buyer. right now you have JPM and Goldman browsing each with their own agenda. We are trying to make CIB look profitable by any means. projects/groups/areas that are not generating revenue or are non-regulatory/compliance/reporting. if we can move a resource or process to india, we will because it will save money on the books here. if business doesnt know your name then you are at risk. NJ / Metro and Charlotte are gone over the next 5-7 years.

Everyone will be terminated or relocated, obviously.