Just got the email from Brian. Anybody have insight into why? I’m thinking it has something to do with Tom Scrivener. Every time I see those two guys together, there seems to be thinly veiled tension. Tom is an actor, Aditya seemed to have more substance, so naturally he’d be the one who has to leave. Could be wrong.
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@OP Thought Aditya was moving to a LOB role.
"The grass is always greener on the other side"
Things often look more attractive from a distance than up close. Don’t spend more than two years in the same role or company, changing positions regularly is the fastest path to growth and higher pay.
Perfect time to leave and enjoy the accumulated net worth. Public records show he has over 12M in BAC stock not counting any other investments that he made while earning so much. Maybe the new gig has less hours and stress. We are only on this earth so long, doesn't make sense to spend most of it working if you have the financial means to retire or substantially cut back the amount of time you spend working and do something you love. If I had 12 million in Bank of America shares at 51, I would retire at and not work another day. Gym, travel, hiking, spending time with family, volunteering, waking up and enjoying coffee each morning looking out at the mountains from a lakeside cabin. I don't think that would ever get old..
@OP Hari has been a stand up person and is smart and respected. I would venture to say even more so than Aditya . Hopefully this will not go to his head .
Aditya knew he was not going any higher in his role at the bank. He is moving to investing and hoping to stay in Charlotte, have less pressure and make more cash. Then jump ship or start his own PE firm with friends.
@de BofA can earn money as a patent troll like USAA when they sued banks for electronic check deposits.
nothing...tech execs get big fat bonuses for number of patents
file a patent and gets you auto approved for band promotion
I wonder how much money was wasted on 7,800 patent filings. Why does a bank need that many patents? What is the return on that investment look like?
Tom isn’t taking his place though.
The average tenure of a CIO/CTO is between 3 and 5 years, and this duration is shrinking due to the pressures of the job. I believe Aditya was the CIO/CTO for about four years, which is just about right.
Position is outsourced to Artificial Intelligence