Tempest in the Local Teapot

Talks are rife in the market about a spate of resignations to come out from a certain investment bank in town. The tempest in the banking teapot purportedly stems from the inability to harmoniously merge the working levels, post acquisition of an advisory firm. The IB department has lost close to 40% of its arsenal, with notable departures like the head of research and key team heads in corporate finance.

Sources close to the matter report that an emergency meeting was held among the CEO and senior management to discuss the issue.

"They're seriously unfriendly. Unhelpful." - Overheard, about one of the advisory firm's staff.

"Of course nobody is going to tell them, more satisfying to watch them implode." - A comment when asked why there seems to be a certain disconnect and lack of communication between sides.

The two sides, I shall call them the Ace Gang and the Stalwarts, have jarringly different opinions about almost everything, like the perception of each other's abilities and work ethics. A few exceptions aside, Ace Gang thinks Stalwarts are severely incompetent especially in terms of presentation skills and Excel skills. But the Stalwarts are a wily bunch. Why go in with guns ablazing and go up in flames? Better to wait til first round is over then go in and systematically demolish everything, or in this case, wait til the Ace Gang shoots themselves in the foot.

Stalwarts work steadily, keep a low profile and generally are non-aggressive and tactful. This means when the work is done, Stalwarts see no reason to stay back in the office, and this can be taken as a sign of being too free, or unmotivated. Ace Gang members are young, driven, outspoken, sharp and direct. Good qualities if you're in organizations like Accenture.

The Ace gang, while undoubtedly are made up of a high achiever bunch who probably started reading at 6 months old and could spell 'aphrodisiac' in kindergarten, appear to have very little ability to connect with people on many levels. They work late, and wear their late-nights and all-nighters proudly like a badge of honour, but they have yet to deliver results. Big name pitches like PAAB and Tenaga were botched, whilst the Stalwarts are quietly and surely securing mandates in their silent, under-the-radar way.

I personally am an Ace gang-type. I respect driven and ruthless personalities, because that's what's needed to survive. But I know the Stalwarts have a wealth of knowledge to offer, and their experience should never be discounted and put aside just because they can't cook up pretty Powerpoint presentations or do a nested IF formula.

The jury is still out on whether the Ace Gang can refine their technique in time to clock in a few hits before the year end, but for that to happen, the realization that things have to change has to come soon.