Pros
When I first joined it was a great, entrepreneurial and smart place to work. The mid-market profile served us and our clients really well. There are still some very smart people there - mainly because they can't afford to leave due to claw back provisions.
Cons
The new IBD management team came along in 2009-2010 and changed all the positives, turned it into a political bear pit. Hired bulge bracket CVs who couldn't win a pitch without a balance sheet to win the deal. Then hired too many bulge bracket CVs. Expanded into new products and Asia too quickly. Told us we were going to be the new Goldmans. And then we weren't....thanks guys! And as for the deal with Leucadia - the senior mgt should hang their heads in shame...Gravy for some. Ensuing disaster for the rest of us.
