19-year-old creates safe space for bankers


If you have a confession to make that involves fraud, embezzlement, or securities law violations, the SEC Alert launcher program is almost certainly the safest and most lucrative place to go. And like Guggenheim titles recently discovered, your employer is not authorized to arrest you. On the other hand, if your confession is a little more mundane – say, you want to admit to the world that you are using VLOOKUP instead of INDEX MATCH – there is “Wall Street Confessions», An Instagram account where people post snippets of gossip and comments on daily life in the bank.

Unlike some of the other social media gossip accounts, this one isn’t run by an anonymous person masquerading as another insider, so there’s no risk of being hugely disappointed when they turn out to be a little less than they claimed. It is managed by Riya sharma, a 22-year-old dropout, who set it up at age 19, considering a career in banking and seeking advice on what the lifestyle really was.

Sharma says the intention of the account was to create a place where people in the banking industry can share the reality of their experiences: “The goal is not only to start conversations, but to make people feel less alone. .

Managing the account apparently kept her away from Wall Street, although that couldn’t be the workload that was responsible for it – according to a profile of her in Forbes, she devotes 80 to 90 hours per week to account management and social media marketing for Stocktwits. Instagram has 115,000 subscribers and Ms. Sharma plans to expand the brand to a book, a career coaching project for women in finance, or a partnership with an Excel training company.

One of the amazing things about WallStreetConfessions, however, is that Rich Handler, the CEO of Jefferies, seems to be using his comments as a venue to animate an impromptu column of aunt in agony. Not all comments are trivial – the account started during the #MeToo period and still collects a number of stories of abusive and inappropriate behavior experienced by junior bankers.

The manager is often found in the first two comments on these articles, for example advise an Indo-American analyst on how to deal with a doctor who constantly calls him by the wrong name. It also distributes relationship advice to bankers who fell in love during the pandemic, performs mental health advocacy and does occasionally jokes how much do vice-presidents earn. This appears to be a shorter version of his famous Leadership Letters series.

The “denominations” all appear reasonably genuine – contributors, while anonymous, are encouraged to provide LinkedIn names and profiles so they can be checked a bit to eliminate obvious wildcards and trolls. If you’re feeling inspired to speak out about bad behavior, admit to a banking misstep, or just get Rich Handler’s advice on how to deal with your sibling by getting a better PE deal than you do, the form is here.

Elsewhere, it’s one of the embarrassing secrets of the market that, as cold as they think they are and rational traders think they are, they are essentially organic animals, prone to mood swings and hormonal shifts. One of the best books ever written on market booms and recessions was “The hour between dog and wolfBy a Deutsche Bank derivatives trader turned neuroscientist. Considering this, it’s not as far-fetched as it seems as a Italian research conference wonders about “how and by what means the microbiota, the intestinal flora and the immune system contribute to influence the economic and financial choices of an individual”. Obviously a stock market crash could mess up your digestion, but could things work the other way around?

Or more importantly, can a link between gut flora and financial choices be tapped at bonus time? If Italian researchers come to solid conclusions, it may be possible to identify a particular type of drinkable yogurt, cheese, or even beer with which to make your boss work in November, so that his gut health is good. in the top. condition to ensure a favorable atmosphere for the entry of negotiations on the bonus pool.

Meanwhile …

We’ve suggested in the past that CEOs, because they’re CEOs, might get a warped idea of ​​how often someone you happen to run into in the hallway comes up with a really exciting and useful new business idea. . (In fact, many CEOs seem to live in some denial about how many of their “occasional” meetings were meticulously planned). Now, real research has been done and there is absolutely no evidence that in-person serendipity makes a measurable difference. Finally, people often have less interactions in open plan offices, as they actively try to avoid wasting their time with boring interactions. (New York Times)

Grace Lordan of the London School of Economics also points out that in-person serendipity often escalates into cronyism and that sometimes the people most eager to return to the office are those who want to keep their access to bosses and exclude women, minorities and all those who are not “people like us” to hide their own mediocrity. (FT)

Is the real reason top graduates hesitate to get into banking because all of the romance and fun has been regulated outside of the industry? (Bloomberg Notice)

Remya Ramesh, meanwhile, might feel like returning to the office – she took a job at Facebook in London in February 2020 but was hit with a travel ban and worked European hours while based in Melbourne last year. . (AFR)

Masayoshi Son told shareholders that Softbank was not a “one man show” but could continue to exceed the previously announced retirement age. He also confirmed that the “Nasdaq Whale” options trading strategy had been curtailed. (FT)

For the most part trying to avoid military metaphors, Frank Krings says that as chairman of Deutsche Bank France, he is determined to gain market share in Paris. (The echoes)

Apollo Global Management tries to think outside the box when it comes to attracting talent outside New York. So far, they have reached Greenwich, Connecticut. (Bloomberg)

Do you have a confidential story, tip or comment you would like to share? Contact: [email protected] in the first place. Whatsapp / Signal / Telegram also available. Please indulge us if you leave a comment at the bottom of this article: all of our comments are human moderated. Sometimes these humans may be asleep or away from their desks, which may take some time for your comment to appear. Ultimately, it will – unless it’s offensive or defamatory (in which case it won’t.)

photo by vadim kaipov at Unsplash


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