"An MD on the trading floor has been making our lives a nightmare, but his sponsor loves him"
I read an article here a few weeks ago about an idiot making someone's life a misery on a trading floor. Regrettably I am in a similar situation, except my situation is worse because the idiot I am dealing with is a managing director (MD).
💥Follow us on WhatsApp for news alerts.💥
He's a relatively recent hire and has made our lives a nightmare ever since he arrived. A lot of the team have left because of him, but the bank seems blind to his failings. This is partly because he has been making money and has an edge but also because he's got a senior sponsor who blindly backs him. Whenever we've complained, this sponsor intervenes and nothing goes any further. Everything is dismissed.
It's frustrating. He's a very divisive character and the bank has lost a lot of good people by keeping him. He's a specialist in managing up, but treats the rest of us terribly.
This is noticeable in pay. Plenty of people who generated good profits were given zero bonuses last year, while he seemed to keep the money for himself. It's not the sort of thing you expect to happen in a major bank, but it's happened in my team. He's created a clique of favourites and if you're not part of that you won't get paid, even if you've generated good pnl.
It's depressing. Most people have left for funds. People have choices. The bank needs to recognise that.
Leo Danzi is a pseudonym
Have a confidential story, tip, or comment you’d like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate.
