What's going on in Citi Houston??

Would have been fr sus if Trauber left and other bankers did not bail to other banks - one could interpret that as either a legitimate retirement or more likely a gracious exit after some bad behavior. 
 

Instead what we got was far more interesting and surprising. A group that has dominated high profile energy M&A has seen its face and hands leave in a single swoop. What I think this points to, as I think some others have surmised, is the boiling point of a bank that is getting pressure to exit upstream lending. On top of that ya there is probably tons of internal conflict over the ST comp guarantees. Why would a bank nuke its own fee machine that enjoys tremendous market share and seemingly wasn’t going anywhere? 
 

I will caveat a good counter argument to this would be that Guggenheim does not have a balance sheet to solicit advisory business to the MDs leaving may not have been looking for new homes for that reason but I have to think that if your upper mgmt is saying curb the lending and that’s a big tool in the kit, that feeling of hostility has got to prompt a job search. 
 

but idk tho