An honest banker?

As was said on one of the pages :

Darth Vader: Why I'm Quitting the Empire
It's "too much about shortcuts and not enough about remote strangulation"

As much as I now too detest GS and the likes - one disgruntled employee isn't going to make much of a difference. If 60% of them were to actually get some compassion / empathy / morals - and do the right thing, then it might make a difference to the way the planet is going.

Unfortunately the vast majority of them are paid hundreds of thousands every year as a sweetener - so they are probably too concerned about which car dealer will do the quickest service on their Lambo - or which penthouse has the best views over Sydney.
 
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I don't think it will make a dent in their business, to be honest. Does anybody doubt that this is how high end investment banking operates, and how investment bankers conduct themselves?
 
I thought most people thought their end users were muppets?

The clients will probably still think they're dicks but continue with them if they're worth it.
 
scorza said:
How big a blow is this to Goldman Sach's reputation? Will their clients be put off by reports that they are referred to as "muppets" and having their eyes ripped out by Goldman execs or will governments and hedge funds continue to employ these people as trusted advisors?
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The US Treasury already has its fair share of ex Goldman execs so that isn't going to change any time soon.... as for the clients they've all got egos, no one is going to think they're the 'muppets' they'll all each assume he's referring to some other clients, some less sophisticated ones etc... Goldman Sachs will continue to make decent money from structured products.

Don't know much about this guy in particular but generally you don't **** off your employer in public to this extent unless they've really really upset you. Maybe he got passed over for an MD role? I find it hard to believe he's doing this purely out of concern for the firm... he is/was an executive director with 12 years experience, he's already got some influence and next promotion he'd have even more influence to change things - quitting and writing a letter isn't the most constructive thing to do if he really wanted to change anything and would seem to indicate (IMO) that he's bitter about something and wants to attack them publicly.
 
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An Executive Director at Goldman Sachs is the equivalent of a Vice President within a European investment bank - a title typically achieved after about 6-7 years plus.

The fact that he ran their US derivatives sales business for EMEA is a relatively senior position, but it's also a pretty minor part of their derivatives sales and trading activity in Europe.

I feel that such an outburst is an unnecessary and tactless approach to resigning, however he's made himself thoroughly employable in the process of doing so. Typically, the more senior the individual the less the stereotype applies. The banker stereotype is typical of mid- to late-twenty somethings with skewed ambitious ideals rather than any substance. I would probably say that less than one percent of desk heads, hiring managers or senior managers could be typified as bankers through their general demeanour and outlook.
 
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[TW]Fox;21476340 said:
An honest banker: Somebody whose views suit scorzas agenda
A dishonest banker: Somebody whose views do not suit scorzas agenda
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To be fair to scorza, any banker who says their company doesn't seek to extract the maximum amount of money from their clients is dishonest.
 
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