Banking Largesse

If the announcement of the losses in the investment banks was not bad enough read this shocking review: "hero to zero in just four short months"

http://www.independent.co.uk/news/business/comment/jeremy-warner/jeremy-warner-merrills-thain-from-hero-to-zero-in-just-four-short-months-1513512.html

and the follow up with: "Executive Excesses: In another world"

http://www.independent.co.uk/news/business/analysis-and-features/executive-excesses--in-another-world-1514654.html

the question is - when will the issues from RBS and others filter through?

Age & Progression

Almost no City law firms keep Partners on beyond 55. In some firms Partners turning 50 have to make the business case to their colleagues as to why they should be allowed to stay.

There is a classic catch 22. If they have been doing their job properly, their colleagues expect them to be burned out and ready to retire at 50. Younger "high" performers believe if they are not burned out, that they have not been doing their job properly, so challenge why to keep them on.

In truth, performance is king not age.

"Ticking the box" verses Performance

With the decline in available capital business performance needs to be at its optimum be it in areas of sales, delivery or it overall management.

An area of risk to performance is the tick box culture that has developed in the boom times and this needs to be reflected upon, since a business is destined to under perform where a tick box mentality culture prevails.

Ticking the box must not over ride skill; experience; gut instinct; the courage to speak out; common sense and professionalism. People "hiding" behind a job description and using “it is not my responsibility or accountability” rather than following the principles of “unity of interest” / “common goal”, risk losing sight of the true basis of business performance.