Teams recruited from J.P. Morgan overshadowing legacy WF Management.
Right before layoff, I attended one of the "intro" meetings given by an externally hired, Indian, former JPM exec. I remember it being very scripted. Hobbies, travel, family. One of the purposes of this meeting was to make us think that they are no different than us. This guy was Indian and from JPM.
Did I walk away with this guy caring about the bank's customers? No.
Did he care about the bank's services or products? No.
I didn't see anything new. All he cared about was himself... probably just like the guy he was replacing.
I thought the only ones benefiting from this were the airlines.
This is all obvious for anyone paying attention. The politics are equally toxic at the director and senior manager level. Let the rats fight it out
Get over it. If you work hard you can get pronounded too. I just did.
Get over it. If you work hard you can get promoted too. I just did.
It's not just JPM. There is clearly a concerted effort from the top to get rid of current employees and not just via downsizing. Everything they say about supporting employees career advancing efforts is a complete sham. They believe they can get a lot of people to leave if they make WF a career dead end, so that's exactly what they are doing. There's exceptions, but for the large majority you're swimming uphill if you want to advance.
Most of these external hires from WF competitors were hired so CS can continue to deceive the board and shareholders into thinking the bank has turned itself around.
Direct access via back door?
Same thing happened when Wachovia acquired AG Edwards. Wachovia managers came in arrogant, ruthless and highly overpaid. That lasted for less than one year when Wachovia ran the firm in to the ground and needed to be bailed out. These guys are all the same.
I don't listen to anyone that is OC-2 or up. Problem solved. I'm sure they are flapping their lips somewhere, but I really don't care.
So? I’m a frontline manager and it’s my job to just execute on what the senior leaders want. I don’t care where they are from.
I am surprised this topic is not brought up more often on this forum.
A lot of legacy folks despise these people - they can be quite arrogant and condescending, and more than a few of them don't know what they are doing and do not belong on their jobs.