it was a men's club. Women don't get promoted...just eye candy. Not big on promoting African Americans either...enough in the windows not to cause a stir. Egoville, USA.....but nobody wanted to be the first to take any responsibility on a loss, error, or wrong decision. Loyalty is rewarded bigtime for men who stick around. A few guys have been there 20+ years, do absolutely nothing, but get paid well into the six figures. Lots of middle management morons....no clue, but they can yell real loud. As for the business.....selling stocks, what else? As long as a broker you make $ for the firm, nothing else matters. At the top is TJ...he has his feet on the ground, but has his head in the clouds to much of the time....I think they are the red headed step child, but would be a good fit for a large regional bank and/or insurance company...primarily to clean house of the Harvard clubbers and bring in real young talent. IMHO
That club house is full of guys that will throw their first born under a bus before somebody would have the guts to tell TJ the truth. I am sure that somebody has already done the light fantastic explaining why TJ did not know of the (shared national credit program). Somebody had to fess up to the loss . And that was not real good for his career. To there credit the stock has performed better than the entire group. How that has happened is anybody's guess.
Amazing amount of ignorance I read here on RJ. I still work for the club, almost fifteen years now. Before at BSC. I can tell you RJ is a better firm, proof is that they are still around. regarding takeovers etc, can you tell me a really successful financial takeover? What is the purpose of such takeover, what is the use, except filling a few pockets. All the big broker names, like Shearson, Smith Barney, E.F. Hutton, Salomon have gone or nearly gone.Did Citi do so well? Did the T.O. really bring anything extra? Nah only marginable. Financial t.o. are bullshit and bring very little extra to the company doing the acquisition. Looks great on paper, but rarely works in practice.