Confirms what we all suspected:
https://www.fool.com/investing/2020/10/30/2-potential-suitors-for-wells-fargos-asset-managem/
11 replies (most recent on top)
I wouldn’t call replacing old corrupt CEOs with a new corrupt CEO “solving problems”. Just musical chairs. Anyone who thinks Charlie will create real change is naive at best.
@2qed+17GrlTlC, you are right.
Just in my space looking in tech, i see these people are making things as manual as possible hoping no one could pick it up. Even bloating more processes. I have only seen things get worse. This wont help them to find new roles as no company is looking for this type of skillset in an automation world.
I would recommend teh ceo stay on the path you mentioned, otherwise no way to clean up this mess. Dillute the company down to 80-100k workers. Build it back up with an entirely new workforce. The entire place is corrupted so i see no way of fixing it how it stands today.
Yes, JP Morgan Chase and Goldman Sachs are ideal candidates to acquire our Asset Management. From the regulatory aspect this both shrinks and simplifies the huge toxic mess which we represent. The sooner that we all understand that we work for a huge bloated corrupt FI which represents danger to the entire banking system, the sooner that we can help out.
Talk of a serious investigation if it is JP Morgan is ludicrous. JP Morgan Chase is actually large, well run and profitable and Schardt of course has a friendly relationship with them. Scharf was hired to solve a problem that he did not create and he needs to divest lines of business and shrink the problem.
If it is JP Morgan, I hope it is seriously investigated.
Shart is discussing the deal with Jamie Dimon and CJ Tolkin at Jamies Hampton’s beach mansion over fine brandy and cigars.
seems more clear this would make sense. I really have no idea how they can make the company more efficient unless brining in all new staff. Current staff is hiding information and will make it hard for the top to do anything like this.
I never worked in a company like this before, usually there is a clear structure and it is followed for those who work for it. Pretty scary seeing this bottom up approach
How lazy are people? Just copy and paste text in browser.
This is an opinion piece by a fourth rate “journalist” with zero background in financial services.
Goldman and Chase
You’re welcome
I would guess, if like other sites there would be those that say "what is source" or "how would you know".
Naming a suitor and the link would be nice but someone would still find fault.
Why not just tell people rather than posting a link?