In the boom years, conspicuous consumption in the bars was investment bankers’ natural release from long hours in the office. Now the office sits on their shoulders while they sup.
“Everyone is more paranoid, that’s for sure,” said one department head at a European investment bank, where the trading floor is festooned with posters reminding staff to report any suspicious behavior. After a series of banking scandals, banks’ compliance teams are ramping up their checks on every aspect of office life, such that even social outings are under scrutiny, with training sessions on what you can and can’t say over a beer with colleagues.
At his bank and at least one other European firm, executives said they were being asked to take part in an increasing number of behavioral coaching sessions, including simulations of pub outings.
Read the full story at CNBC.