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Will Regulated Compensation Drive Talent To Non-TARP Boutique Firms?
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Don't get me wrong: a lot of the average, working Joe types on trading desks—and even average types working in the lower rungs of investment banking—are in favor of lower compensation for the highest paid executives, and even claw backs. They think management screwed up, too.
But now that it is clear that the government is going to likely over-regulate the entire industry, the talk is that anyone who makes significant money (and significant profits) is looking for a way to get out of firms that take TARP money and go to boutique firms, from currently existing ones (Greenhill, Lazard and Jeffries are mentioned), to new ones that will be created in the near future, to foreign firms that would not be part of the government restrictions.
The shift of revenues and talent to smaller firms could create a new two-tier system on the Street: the old staid regulated firms and the more dynamic smaller firms. Assuming they are not regulated out of existence as well.
What do you think?
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- Why Is Market So 'Tired' With Good News?
- What Exactly Have Greeks Agreed To?
- A Greek Deal, but What Is the Deal?
- No Greek Debt Deal? No Problem! (Maybe)
- Irish Finance Minister Causes Draghi's Worst Nightmare
- Caesars' Wild Open
- Forget the Incredible Shrinking Greek Politicians—It’s Draghi Time!
- Trading Day Has Lots of Moving Parts
- Overcoming Distrust Between the Germans and the Greeks
- Is Merkel Too Comfortable With Greek Default?
Data is a real-time snapshot *Data is delayed at least 15 minutes
