Looks like Ray used to work at JP Morgan Chase - like Charlie.
Avid retiring in March 2020 - same month Alan Parker is leaving the company to explore other business opportunities.
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This is how the rich get richer. With approx. $20 million net worth, does Avid teally need a paid vacation on our dime?
Can confirm Avid bonus in March and mailing it in for pay until then. Where do we get a deal like that...
“Steal a little and they put you in jail
Steal a lot and they make you King”
Previous poster is clueless about Avid's retirement. I'm shocked on a daily basis that people aren't savvier about how these things work and I'm not alone. Look at other thread.
Timing is everything.
Whose next?
First, it should be no surprise that Scharf is bring in new leadership. It is common practice for a new CEO to bring in like-minded, and trusted colleagues from previous enterprises. Second ... Avid had indicated well before Scharf's appointment that she was not interested in ascending to WF CEO and had expressed her intent to retire within the next year (+/-). That said, PVSI has long been a mish-mosh (technical term) of an organization. So, I for one welcome new leadership that (hopefully) will return that area of the bank to a more traditional and effective model.
Charlie has a whole army of folks ready to come in and assume leadership roles at WF. Most of them are from JP Morgan but then he also has folks from BNY Mellon ready to follow him into WF. So the reorg will be an ongoing process for quite some time
I hope they use her "retirement" as an opportunity to dismantle PVSI, a total disaster of an organization.
So the count is now at two of Charlie's buddies on board, right?
The org chart under Avid is totally a mess.
It is called get the bonus in March. Plus, they are likely already out on gardening pay for sure. You likely will not see or hear from them again.
I said it first back when the CEO was announced. I was wrong about her being first, but she was close second. DING DONG!