Under Corporate risk - Credit Risk - Risk modeling.
Massive cut yesterday.
Most of these guys are Quants making over $250K
The rumor is lots of Quants and risk analytics in corporate risk are in the chopping block early next year
7 replies (most recent on top)
Mark Baum: You’re saying at 8% the bonds fail and we’re already at 4%?
Jared Vennett: That’s right.
Mark Baum: If they go to 8%… it’s Armageddon?
Jared Vennett: Yeah that’s right.
Danny Moses: You’re completely sure of the math?
Jared Vennett : LOOK AT HIM. THAT’S MY QUANT.
Mark Baum: Your what?
Jared Vennett: MY QUANTITATIVE. My math specialist. Look at him, you notice anything different about him? Look at his face.
Mark Baum: That's pretty racist.
Jared Vennett: Look at his eyes, I'll give you a hint, his name is Yang. He won a national math competition in China! He doesn’t even speak English! Yeah I'm sure of the math.
We should start a class action against WF malpractice in employment https://www.classaction.org/search?q=Wells%20Fargo
I can confirm this .
This was under Controls and approval - which is under corporate risk.
Mainly model and analytics guys involve with like auto, credit card modeling.(I.e they write models, like statistical models) - not fashion models (in case you are too duummb to know what a model is)
Jobs moved to India?
Can’t wait.
@a1 don’t know
@OP which team?