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wtf? when was this
This happened yesterday in NY with atleast a couple directors getting axed. Does anyone have details?
Heard it was analysts/associates who were mid/bottom bucket across industrials, TMT, levfin and healthcare. You know it’s going to be tough when the bank that promotes culture the most as the recruiting tactic is going through layoffs
Isn’t there TMT team basically only analysts and associates with most MDs and Ds getting poached? Heard they were chilling with no seniors for quite some time
can i ask source/why u think that for industrials/healthcare? heard lev fin and tmt and possibly consumer
Can confirm this. This also happened exactly a week after the two co-heads of investment banking spoke at a town hall and implied that cuts would not be made.
minimal cuts and certainly nothing like GS; pre-COVID RBC would occasionally prune bottom bucket performers so doesn't seem unusual given they've abstained for a couple years now.
source from a friend 100% lev fin got hit, and possibly even consumer. lmk if others have info, really surprised someone mentioned industrials and thats the highest revenue bringer per group in ny
Anything in Canada yet?
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