City Broker firm set aside £40m to lure rivals staff

inspector_monkfish

Frightening amounts of cash they are talking about:eek:

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BGC Partners, the interdealer broker, set aside more than £40 million for a secret plot to poach around 50 staff from arch-rival Tullett Prebon, the High Court heard today.

http://business.timesonline.co.uk/tol/business/law/article6875156.ece

Generali

£800,000 a head. That's a lot of QE.

lemonjelly

Wow!

Couple of things that spring to my mind:

£1.1 million bonus for accepting a job :eek:. Whenever I have had an interview/been offered a job I've merely been grateful to get the bloomin job. That kind of bonus is more than many earn in a decade.

Secondly, how can you trust or rely on a geezer who loses 7 blackberries in 12 months? Doesn't mark them as a reliable dependable type to me. I'd want someone to be careful with my stuff.

Seriously, there must be big money at stake here, but the arguements (from both sides) actually comes across as quite childish, for big bankers. It is almost like they're treating a lot of people as though they're stupid.

Comes across a bit contemptuous.

Keep us informed Inspector...

inspector_monkfish

lemonjelly wrote: »

Wow!

Couple of things that spring to my mind:

£1.1 million bonus for accepting a job :eek:. Whenever I have had an interview/been offered a job I've merely been grateful to get the bloomin job. That kind of bonus is more than many earn in a decade.

Secondly, how can you trust or rely on a geezer who loses 7 blackberries in 12 months? Doesn't mark them as a reliable dependable type to me. I'd want someone to be careful with my stuff.

Seriously, there must be big money at stake here, but the arguements (from both sides) actually comes across as quite childish, for big bankers. It is almost like they're treating a lot of people as though they're stupid.

Comes across a bit contemptuous.

Keep us informed Inspector...

easy.. these are unscrupulous Money Brokers, not Bankers!!
never tar us respectable Bankers with that brush....

i actually speak to and use both firms in question here
and although i don't personally know the names involved, i do know of them, and speak to their colleagues on a daily basis - there is alot of anger among the staff that are still left!

purch

Broker Sc*m :mad:

Lunch at Le Gavroche anyone ???

Derek Tullett wouldn't recognise the 'beast' he spawned !!!

Mr_Matey

I grudgingly accept your offer of a £1.1m joining bonus and a £800k salary.

lemonjelly

inspector_monkfish wrote: »

easy.. these are unscrupulous Money Brokers, not Bankers!!
never tar us respectable Bankers with that brush....

i actually speak to and use both firms in question here
and although i don't personally know the names involved, i do know of them, and speak to their colleagues on a daily basis - there is alot of anger among the staff that are still left!

I'll bet that is an interesting experience for you. Banking gossip.
Sounds like a soap opera in the city! :rotfl:(Hmmmm, could use that idea!)

Appreciate your distinction with the brokers/bankers. Though I suspect that a lot of joe public will see this and just read city types & bankers feathering their nest & making millions whilst we suffer etc.

inspector_monkfish

its going to run and run this one

would make an interesting 'cloak and dagger' style movie

inspector_monkfish

lemonjelly wrote: »

I'll bet that is an interesting experience for you. Banking gossip.
Sounds like a soap opera in the city! :rotfl:(Hmmmm, could use that idea!)

Appreciate your distinction with the brokers/bankers. Though I suspect that a lot of joe public will see this and just read city types & bankers feathering their nest & making millions whilst we suffer etc.

exactly!

there are infact no Banks involved in this.

vivatifosi

£800k sounds great, but wouldn't you have to work with David Buik? The thought of him being angry (per Inspector Monkfish above) is very, very scary...

inspector_monkfish

vivatifosi wrote: »

£800k sounds great, but wouldn't you have to work with David Buik? The thought of him being angry (per Inspector Monkfish above) is very, very scary...

he's at BGC, the angry ones are at PrebonTullet !
never met Buik, but know people that work with him, he's supposed to be quite a funny guy