Anglo hiring 125 staff for 'good bank, bad bank'

[BoyRacer]

Anglo hiring 125 staff for ‘good bank, bad bank’ restructuring - Jon Ihle → tribune.ie/business/article/ … bank-rest/

Anglo Irish Bank is recruiting 125 staff to bring news skills into the institution in preparation for its split into a ‘good’ bank and a ‘bad’ asset management company, the bank has confirmed.
The positions, mainly in risk management, legal and general governance, are being filled to address gaps that have opened up through the bank’s redundancy programme and through natural attrition in the last year.
The move comes as the European Commission considers whether Anglo’s business plan, which is based on carving out a smaller business lender from the wreckage of the failed property bank, is viable.
“Even as the restructuring is being deliberated by the European Commission, the bank needs to be retooled for the split if approval is granted,” an Anglo spokesman said.

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[Rimbaud]

The positions, mainly in risk management, legal and general governance, are being filled to address gaps that have opened up through the bank’s redundancy programme

That makes no sense what so fucking ever.

[jcsmith]

@Rimbaud

The positions, mainly in risk management, legal and general governance, are being filled to address gaps that have opened up through the bank’s redundancy programme

That makes no sense what so fucking ever.

But it means lucrative unfair dismissal claims for the people who were made redundant who can now claim it wasn’t a genuine redundancy situation…

[onestepbehind]

@jcsmith

@Rimbaud

The positions, mainly in risk management, legal and general governance, are being filled to address gaps that have opened up through the bank’s redundancy programme

That makes no sense what so fucking ever.But it means lucrative unfair dismissal claims for the people who were made redundant who can now claim it wasn’t a genuine redundancy situation…

Unless they rehire the same people

[The_Naked_Chef]

Unless they rehire the same people

Under Law, they must offer the posts, if they are the same as the redundant posts to people that they made redundant. After that its fair game for anyone.

[onestepbehind]

@The Naked Chef

Unless they rehire the same people

Under Law, they must offer the posts, if they are the same as the redundant posts to people that they made redundant. After that its fair game for anyone.

Yep - I thought as much.

[bob3367]

@Rimbaud

The positions, mainly in risk management, legal and general governance, are being filled to address gaps that have opened up through the bank’s redundancy programme

That makes no sense what so fucking ever.

Well lets be honest, those in the jobs previously were’nt very good at the job, or were’nt allowed to be very good at the job.

[shocked]

@Rimbaud

The positions, mainly in risk management, legal and general governance, are being filled to address gaps that have opened up through the bank’s redundancy programme

That makes no sense what so fucking ever.

“Anglo” + “sense” = does not compute.

[flustered]

Well if they just transferred the same staff to lend more money it wouldnt have been the best idea either would it!!

Anyonoe have any idea on kind of salaries on offer here, I heard they are pretty substantial (someone who was offered one told me) but no idea of a figure

[BoyRacer]

@Spinnaker

Career damaging having Anglo on your resume.

Easily resolved, once they have new Anglo established they then will rebrand it. I can see the marketing firms lining up now, easy money.

[Larry]

@Spinnaker

Career damaging having Anglo on your resume.

I don’t agree at all. Employers will be able to differentiate between the boyos at the top who ruined the place and lower-level clerks, HR people and accountants or whatnot.

[BoyRacer]

@Spinnaker

@BoyRacer

@Spinnaker

Career damaging having Anglo on your resume.

Easily resolved, once they have new Anglo established they then will rebrand it. I can see the marketing firms lining up now, easy money.
WHPR featuring Gone Nativefreesmileys.org/smileys/smiley-angry013.gif

Anglo to change its name – and taxpayers will pick up the tab → independent.ie/national-news … 64962.html

SCANDAL-haunted Anglo Irish Bank is planning to drop its name in a major branding shake-up, paid for by the taxpayers who bailed the bank out.
The most infamous name in Irish financial history is set to be discarded, as part of an image overhaul that will cost hundreds of thousands of euro.
The bank’s bosses have ordered the state-funded makeover, after putting a contract out to public tender. With its former boss Sean FitzPatrick now bankrupt and its name in tatters, bank bosses want a brand consultant to help it shrug off its past.
**The bank has invited consultants to tender for a new contract, to help Anglo “overcome the impact of decisions made in the past and to become a constructive component of a reformed and modernised Irish banking structure”
**
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Oh wow, quelle surprise!

[BoyRacer]

Anglo forced into U-turn over name-change plan → independent.ie/national-news … 70987.html

A bank spokeswoman confirmed the retraction of the tender information, and said its appearance on the website was an administrative error.

“The request for proposal was a draft document and was posted in error and has been taken down for that reason,” she said.

There were no immediate plans to issue a new tender. The rebranding exercise could have cost up to half a million euro.

News of the plans also came at a sensitive time for the bank as the European Commission is examining its recovery plans. Anglo wants to split into two entities – a banking arm to operate day-to-day business and an asset management firm to manage bad loans.

News of the name change prompted internet fans to ask for suggested titles for a new bank

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[ewd3]

@Larry

@Spinnaker

Career damaging having Anglo on your resume.

I don’t agree at all. Employers will be able to differentiate between the boyos at the top who ruined the place and lower-level clerks, HR people and accountants or whatnot.

worse than that

every banker in the world knows that they would have done the same as anglo if they could

Banking is about renumeration of the senior bankers

[DeeK]

These jobs dont seem to be on their website. Are they advertised somewhere?

[BertieInExile]

Anglo … ‘good bank, bad bank’

https://tshirthell.vo.llnwd.net/e1/shirts/products/a1379/a1379.gif

[BlameGame]

@Spinnaker

Career damaging having Anglo on your resume.

Yes - I wonder what is more damaging to a CV to have Anglo or Depfa on it?

Or would other banks HR depts just say that AIB, BoI were just as bad at making lending decisions so middle management shouldn’t be blamed

[BertieInExile]

breakingnews.ie/text/business/eygbidcwmhoj/

Anglo Irish Bank’s Chief Executive has said he hopes plans to split the company into a good and bad bank will be operational by the end of the year.

Chief Executive of the Bank Mike Anysley said Anglo is sifting through its loan portfolio to assess which loans are suitable for inclusion in the new bank - BankCo.

en.wikipedia.org/wiki/Baccarat

Banco (North American Baccarat)
In the United States, Canada, Australia, Sweden, Finland, and Macau, a variation of baccarat is played in which the casino banks the game at all times. Players may bet on either the player or the banker, which are merely designations for the two hands dealt in each game.

Should both have the same value the croupier shall announce “Egalité—tie bets win.” All bets on ‘Player’ or ‘Banker’ remain in place and active for the next game (the customer may or may not be able to retract these bets depending on casino rules).

In casinos in Las Vegas and Atlantic City, this version of baccarat is usually played in special rooms separated from the main gaming floor, ostensibly to provide an extra measure of privacy and security because of the high stakes often involved. The game is frequented by the highest of high rollers, who may wager tens or hundreds of thousands of dollars on a single hand.

A player that wants to play high roller baccarat online can do that only if he/she gets an invitation which is not so easy to get. Most of the time the invitations are given to players that spend lots of time playing baccarat for real money.

Because of its attraction for wealthy players, a casino may win or lose millions of dollars a night on the game, and the house’s fortunes may even affect the bottom line of a corporation’s quarterly profit and loss. Notations of the effects of major baccarat wins and losses are frequently found in the quarterly reports of publicly-traded gaming companies.

Despite its simplicity (or perhaps because of it), the punto banco version of baccarat offers some of the lowest house advantage available in a casino

[BoyRacer]

‘Baddest’ bank’s boss: there will be a return on new Anglo → independent.ie/opinion/analy … 07160.html

The optics are, to say the least, not good, given the fact that the imposing office block was built by one of Nama’s biggest clients, Treasury Holdings, and off the back of financing from Anglo Irish Bank.
**In terms of making financial sense, however, a 35-year lease with no break clause proved to be the deciding factor when it came to moving Anglo from its former headquarters on St Stephen’s Green to the one-time offices of its private banking division.
**While looking after the money saved by keeping to the terms of the Connaught House lease won’t do much to lessen the cost of the Anglo bailout, for Mike Aynsley, every little bit – however inconsequential it may appear in the scheme of things – helps.

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[BoyRacer]

@Spinnaker

Career damaging having Anglo on your resume.

Anglo staff must live with its legacy → news.efinancialcareers.ie/newsan … emId-28199

Back in the day, Anglo had a reputation for paying over the odds, and therefore attracting a higher calibre of finance professional. This reputation still stands relatively strong, and the majority of people coming on to the market are not going to be dusty old bankers with a history of soured property investments behind them.

They’re going to be young – between 26-35 – and, in the credit teams at least, are carrying a wealth of experience managing distressed loans and directly liaising with credit committees across a variety of sectors in addition to their already well-regarded training.

The real question, though, is one of timing. If Anglo staff decide to brave the market now – with few opportunities and amid new wave of anti-Anglo rhetoric – their experience at the bank will definitely count against them.

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