Bank leaders are all in San Antonio this week for strategy sessions. Could be a good or bad thing…anyone have insights?
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@15v sir, you forgot BUSINESS AGILITY group that’s led by an incompetent lifer ED. He didn’t have bolita to push back on manual reporting on financial state of technology teams because he was “this close” from retirement that he needed to lock in step to finish his child support payment.
Also, we need to stop treating for-profit college doctorate as a legitimate PhDs that actually takes 5-6 years of work and research (FULL TIME) to meet the requirement to earn their PhDs.
I do personally believe the bank quality and RCSA /prci teams are about to get hit hard after some of the departures of their leadership.
@b6 this is very true, just like with the January 28th layoffs, those were decided on in early October. The bank will have 2 more rounds this year, they won’t be large like the January round, but both will equal out to 5% to bring the total to 10% by end of year.
See below. Will they discuss at a high level which areas may be impacted for layoffs, yes of course. But that’s mostly done in much more private settings. Those areas to be laid off next have been selected already for the rest of the year
Nothing special. BAU.
Focus of the agenda is around audit plans, GenAI risk tools, Board KPIs (consent order), efficiency ratio management, and discussion of reduction in force (there’s been ~10% of reduction since 2023 with more to come).
It's just that time of year. This is when they finalize strategy planning. Next comes operational planning, which wraps up as they are finalizing the 10.1 forecast, which sets next year's plan.