So much for getting rid of the layers of mgmt…
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All recruits from JPM hold high-ranking positions such as CEOs, CIOs, heads of technology, Executives, business leaders, PE or management heads. There are no hires at the contributor level. Those involved in contributing are labor typically include WF managers, software engineers, WF legacy individual contributors or desi bros.
It’s a temporary transition situation with the Co-heads. Maybe a few months, a year, who knows, zero chance this lasts long though.
@llx+1sqxBcBa Calm down buddy…I meant Weiss
One new JP folk added means more layoffs for existing employees.
See the definition of insanity according to Einstein.
His U5 says nothing about getting fired
Another “sloppy seconds”!! Have fun Wells Fargo!!
sit+1sqxBcBa
What the he-l are some of you guys smoking? Charlie was never head of WIM. Jon Weiss was though right after David Carroll.
Man, the stuff spewed on this site is amazing.
It's not Barry, people, it's Jon Weiss, CEO of CIB. What I want to know is why spans and layers won't can one of them. Jon has about 10 directs...is the new JPM B teamer supposed to share? Can anyone else in the bank do that to avoid spans/layers layoffs?
Do people know why Barry was fired from JPM?
So this guy worked 30 years at Chase, most recently as Head of North American Investment Banking. Then retired. He didn’t make enough $ at JPMC so he needed to unretire??? Or was the gravy train Charlie laid out in front of him too sweet to pass up? I mean he gets to “co-lead” CIB. This place is absolutely disgusting.
@jlx+1sqxBcBa More of a degree of separation… Barry is a chase alum but not a lifer he was “inherited” with Bear Sterns where help lead that ship to its doom. Barry replaced Charlie as WIM head a few yrs ago. He’s probably next on the list…
no, we get rid of employees that do the work to clear payroll to hire all Shart's JPMC buddies. There will be no one left in the US except at FHY
What does this have to do with Barry? You realize this is CIB , not WIM, right?
JPM is mother ship that lay lot of babies ( useless) and send them here.
And the odd thing about that is they're gonna be co-leaders of that business unit. Really? we're going to have two high salary people running that line of business?
What's funny is that Shart's directs are running around telling us to hire less experienced people to save money, but every time he hires someone it's always a JPM B Team Lifer Bro looking for a retirement check.
Corporate welfare by Charlie for a buddy. #wellsfargoshitshow
Now execs are just making $hIt up. CS’s buddy needed a new boat or some other cr-p so he was like ‘here you go - just share this job with someone else.’ CS has to invite his buddies to milk this place before he jumps ship when his 5 years are up in October.
Weiss has to retire, as he’s 65. A Board thing. No surprise.
From https://www.tchbpiconference.com/speakers/detail/?speaker=Fernando%20Rivas
"He has spent over 20 years advising financial institutions, including playing a leading role in a large number of mergers... Wells Fargo’s acquisition of Wachovia..."
Hmmm.
Everything used to be about Barry until it wasn't. So I am unsurprised that a new individual has replaced him. Eventually Jamie dimon will be named CEO of wells. That will confirm my suspicion that the ultimate goal is to break up wells Fargo.
Never.
Barry is probably on his way out the door, or perhaps just shifting to another exec role at Wells. Co-CEO of a LOB makes no sense whatsoever.
We are well beyond the point where this company can still be considered as Wells Fargo in anything but name.
When will DEI hit the executive level?
I can see a Wells/Chase merger in the future.
Pack your bags Weiss.