It is very apparent that US Bank have zero interest in promoting Union Bank people. Watching Union Bank people promoting and US Bank hire managers have been non responsive or superficial interest in even consideration. Strong feeling the rumblings of layoffs for Union Bank is coming.
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They have zero interest in promoting anyone outside of their usb tenured, dated cliques. It’s very antiquated and will be their downfall.
The bank is very experienced and knowledgeable about letting people go without much media or internal awareness.
They like to layoff people 50 and over and lay off a few young ones to make it look like it’s not age discrimination
A bunch were let go first week of September, my final paycheck was short by a few thousand dollars, and they had spreadsheet I must have been mistakenly sent and hope i can get back into my account to download that listed every UB TOS person by age and depratment being laid off and the tiny handful who were kept. If they fix it and honor things, I won't have lawyer up, but who am I kidding its US Bank, I will likely need to find a lawyer.
Most of UB folks will be let go by end of September. There was little interest from USB in hiring UB folks. They never had any intentions of filling jobs with UB folks.
But now USB has to do a lot of serious cuts. Outside of UB folks.
OC had a big lift out, some good folk.
LA not as many folk
Haven’t heard anyone leaving San Francisco
Portland and Seattle were small UB shops
The OC group will take some accounts, I would bet on it
Who is still left in PWM??
I heard most of the PWM in The Los Angeles and Orange County region left.
What was the point of acquiring UB accounts when you let all the PWM leave and taking the accounts with them?????
Private Wealth leadership isn't just weak, it's an industry-wide joke. That side of the bank is a cesspool of incompetent su-k-ups and clowns. The guy who pulled the team to Comerica was formerly the ML for LA and left to go to UB. Gee, who didn't see that one coming? Apparently not the mo--n who runs PW in CA or his fratboy leadership team. What a total joke. The employee bleed isn't going to stop once people realize USB is a toxic culture run by buffoons. It's actually sad to see how downhill the bank has gone since AC took over.
There was a big UB Private Wealth lift out in Southern CA to Comerica, but honestly not as many leaving as I expected, Perhaps waiting for the retention bonuses to hit for those that received them, or waiting for the UB comp plan to go away
Here’s a little 🧀 for your whine….
PWA talent is leaving because of the weak leadership. It's awful everywhere but, it's extra bad in PW
They won't promote any Union Bank people because your are filling the role and they have a hard time filling your position. That's why they hire promotion position from the outside. You sound like your in retail banking. It's the worst position in the entire footprint. Promotion opportunities for CRC's don't exist. Wonder why they call you CRC and not a traditional banker title. Retention.
More UB layoff coming?
I heard a lot of the PWA already quit