What is up with the recent new hire that will by a “co-head” of the CIB business.
For those that are part of CIB markets is this even a real business ? I know Charlie wants to grow CIB but it seems to be more skewed towards investment banking vs sales and trading. The revenues that CIB generates compared to other larger peers is a joke. I don’t think Charlie and his crew have the ba--s to take risk in this area either as it will end up becoming more of a career risk for them if they decide to grow it and things go wrong, give the volatile nature of the business.
Finally, Sales and trading seems to be run out of charlotte with no intention to grow or hire NY talent which is where all the client relationships happen.
Moreover, from my limited interaction with the CIB Markets teams it seems like there is a ton of politics with no real action and or growth
Any input would be appreciated