Why are noninterest expenses only down 1%?
The answer: the great su-king sound that is Wealth and Investment management. Higher "revenue related" compensation (i.e. sales bonuses). The efficiency ratio of every other business is good; the efficiency ratio of WIM is 80, bringing the efficiency of the whole company down.
We are all getting pressed so WIM can su-k corporate resources.
They must think WIM generates enough revenue to justify the expense.
Most stats ignore the new India locations. Transferring a job to India means laying off a US worker and hiring an Indian one.
WIMT is where careers go to die.
@ad 8% is a stat from this quarterly release not Chainsaw’s total carnage of his reign of te---r n
194k total headcount. Was 276k when charlie arrived.
@OP that's just the way that industry works.
@OP ahhh so that’s why WIM will be cutting jobs! Thanks!