Stephan is stepping down. It’s just going crazy one after the another. Elyssa Herman and now Stephan S. Anyone have any insights on what is going on.
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Bwahahaha!
Herman was clearly unqualified for the job. No one respected her and serious micromanger Schenck was in over his head. Small company guy who couldn't understand or manage the big picture. Things are better off without them.
There are 100s of banks hiring risk from the top down, why would they stay here? These seem like the smart people who realized big red isn’t worth the hassle, for any price.
@kme+1rjix8Gc. Totally agree.
Getting off a sinking ship....
Like the FSB, HY is always on the look out for anyone that isn't toeing the line. Anyone that doesn't gets purged. So yeah, unless you actually enjoy tormenting employees and firing people under false pretenses, you need to "go" according to Shart. He only tolerates sycophants. If you're not enthusiastic enough about his stupid/failed ideas, your days are numbered.
If all of risk would step down that would be great. Risk, audit, SACM, you all just waste the time of people that do real work.
Plus disagreeing with the company's general direction, burnout from the problems that aren't getting fixed, etc. When you make enough money, it's easier to make the decision to find something different.
I know a good number of higher-ups are leaving or retiring early because they don't want to be involved with the waves upon waves of layoffs. Having to let people go who have done nothing wrong and have contributed to the company for decades... and it's not like the layoffs just happen once and they're done. It's ongoing, and teams are having to deal with new employees in I&P...
Good riddance the whole SERM team is a waste. Also time is coming to checkout the gravy train in op risk.
Yeah I know what’s going on. We are the banking version of a Three Ring Circus. Time to rebrand as PT Barnum Fargo
And so it begins.
Probably they are in the wrong core markets...