Is anyone else just loving all the outside executive leaders coming in and hiring all of their buddies while simultaneously letting people who have worked at the company for years go? I’m thinking the influx of hiring of all the Bank of the West employees to bank digital or the hiring of the TD bank employees underneath Lindsay. I know this is a standard industry practice but it hurts to see it play out in real time. We have people with zero military experience creating digital and bank strategy—fun times.
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This happens across the Enterprise - not just in the Bank. We aren't investing in our own future leaders very well rather scooping them up from other failed organizations and hoping for a better outcome.
It’s not any particular bank. It’s a group of toxic managers that move from bank to bank. Look at their resumes. Most have done the rounds. Citi, Chase, BAC and then Wells
There is little hope for the Bank anyway. Paul seemed like an honest guy, but he made it clear that there would be no more bank layoffs in the next round. He said cost savings would be saved via attrition. Well, there were Bank layoffs this last go around. You can't trust any senior executive at USAA. They are all pit to line their own pockets.
Nepotism to some extent is irrelevant. If the senior executive hired by USAA is useless, and there are plenty of those over the last 2-3 years, then who do you expect these executives to hire? Their old buddies who are about to be fired from larger financial institutions.
usaa is a joke in the finance industry anyone successful at a FIB would never ever consider this clown show of a "bank"
These a$$hats are destroying USAA from the inside.
Without a miracle this place is doomed to failed. It will be unrecognizable in a few more years.
Military experience is not a pre requisite for a high-performing bank employee or executive.
I’m not saying the current executive hires are good (they’re not), but claiming they are less capable because of non-military experience is an unfair judgement.
And hiring only-military background, candidly, is not going to provide the right mix of expertise needed to run the Bank, which is why they are where they are now. You either had insurance guys and/or ex-military with no banking experience running the show. Look how that helped.
Nepotism generally means your children
This would be leaders getting hired and establishing power and then bringing their people over that they know and trust
It’s obnoxious but very normal and most of us would do it too
These a$$hats are destroying USAA from the inside.
Without a miracle this place is doomed to failed. It will be cognizable in a few more years.
I missed the memo when Bank didn’t have nepotism. It’s been that way for my 8+ years.
What about all the execs being hired in areas like compliance that have come from banks that got in trouble?!
Dont forget all the S-Bags from BoA