The post about too many Global Heads with undefined non-jobs s---ing in overinflated comp packages hits the nail on the head. I worked in th F&R division and before that at Reuters for over ten years. I have been astounded at the number of meaningless Global Head roles. They are always staffed by idiots without marketable skills. Their only "skill" is in s---ing up to senior dunderheads. It doesn't take a lot of analysis to spot these useless clowns. "So Mary, as the Global Head of Innovation for Risk, can you please tell me about some of your recent accomplishments?" Answer - "Proud to say that I chaired the TR global committee on promoting trans-gender managers, represented TR at the annual NYC Cares gala, and took Deb out to her favourite trough for lunch last week. Next week excited to say that I will be travelling to the west coast to hear Asif talk about stuff he has absolutely zero understanding about, like distributed ledgers, machine learning, and the ever-popular low latency." After that I'm off to France for a three week vacation. These private equity types are sharp as razors, and the only low latency event you will see is how quickly they identify and remove this corpulent layer of cost.
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Also in F&R, not affected yet - but can anybody tell me what Phill Cotter does or knows about the businesses he manages? The man is clueless. Impossible to explain some pretty complex dynamics to him and he is unwilling to spend the time and effort to learn. So he keeps pushing the same useless comments/instructions expecting a different outcome.
sorry to say that said global heads are mostly still around as of the day I left. the PE razors aren't so sharp this time. yet. there's been some musical chairs played but they remain mostly intact as seems to be the case in some regions.
Who had been let go so far in NYC?
This was funny. And mostly accurate.
But you must remember: the re-orgs started right away post-merger. And they never let up. So that you can't really blame people for just holding on to what they had and trying to parlay it into something bigger, more important-sounding than the last thing. Because, at the end of the day, there was very little getting built or even done from 2012-16. Business plans would be "approved" but no resources forthcoming to do the work. It was extremely hard to do any small project if you weren't tied to Eikon or Elektron.
Which is to say: yes, a high percentage of fools running around as global heads of xyz....but they were just covering their as*es, trying not to get nailed. And some of them have done a good enough job inflating themselves that they've landed elsewhere in even bigger roles. That's pretty irritating, sure. But it's not worth the bitterness. I've been there, trust me. Move on, and hope they clear out the truly dead wood.
when it was reuters they tried to run a business look at it now the place is a forking joke. pushed out all the people who gave a sh-- and look at this f---ing fool David Craig. Just another management consultant spreading Mackinsey muck no clue how to run a business. Got a vag--a? Here have a promotion. FnR sales just run amok doing whast they want i bet half their deals are loosing the company money but yeehaw lets go to the maldives and have a big party no sorry i mean sales cvonf.
Funny post...
Have the rifs started yet?
I no longer work there (and not for a while) but my pocorn is warm to see some of the former jackass managers I used to deal with get the boot