The entire Bay Area team was let go on Tuesday. Moving jobs to NYC.
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Prime services is what is known as a prime brokerage, they offer certain services to other large financial institutions such as securities lending or cash lending to facilitate transactions going through. Most large investment banks have a business group that does this.
what is "prime services" ?
Charlie and his NYC penthouse suites. He drinks martinis all day while chainsawing our company. What a horrible CEO!
*Corporate and Investment Banking
One of the 5 core business groups in the bank, caters to the largest institutional clients, probably has the lowest number of employees and the best efficiency ratio of all biz groups.
comm investment bnking
What is CIB
from one $h_t hole to another
Sure move the boots on the ground work to NY so the new employees can work in fancy overpriced NYC buildings to support Hudson Yards. Then expanding the onboarding service employees roles to India and recoup the NY money on savings from cheap labor in India.
Funny how that works so effortlessly for this c-suite and no one bats an eye.
After all, they all have a goal to meet for bodies outside the US.
Wells will be a NY bank for Charlie's own reasons. Face it.
They are really trying to grow CIB in NY. I wouldn't doubt it if they take on more floors at HY
well at least they are not moving the roles to India....yet
Sorry to hear that. How many employees?