So we’ve been having ‘strangers’ come in our office which we dress up for. Thus far we have not been introduced to them. I caught a firm name of one when he was introduced to our CEO in the lobby and when I googled it found it to be a middle market PE shop located down the street from us. The man with him was not from the city we’re located. When a firm is for sale, does management of the current firm ever change its mind and become not for sale? We were suppose to join a larger entity earlier this year but that fell through in July. With the unnamed guests showing up lately, I have a feeling we are still for sale. Next, a conference room has been locked and has two other individuals going through our A/R, A/P, and other records everyday. Only reason I know this is that those markings are on two of the boxes. Again, they have not been introduced to anyone. Lastly, upper management has been stressed out lately. Most are down to jeans and t shirts when arriving to the firm. The hair that broke the camels back was just now when I had to deliver some trade confirms to my manager, he had his resume up on his computer screen! He was appointed COO not too long ago (since we restructured our firm in July due to the deal falling through) so this is not sitting well. The market is not helping business since we bill based on AUM, but the AM business should not take too much of a hit as a whole I don’t think. Our PM’s are outsourced and so far we have not heard indication of anyone closing shop. Does anyone on this board have insight regarding small RIA and AM shops closing their doors? Let’s use some mosaic theory here. I’ve seen a lot of assets walk out of the door since I work in bo.
Locked conference room and people showing up unannounced on short notice? That’s a surfire sign that there will be a change in management soon if you ask me. And that goes for any kind of business. When management installs new locks on their doors or seals off parts of your office, you should start preparing to pack your bags, you might even want to have a cheap sports bag under your desk ready to carry your personal stuff on any given day. Memorize names of people you could contact once you’re out (if they’ll let you go). Go over your CV. Think about what your plan B is. Post your e-mail address on these boards. Start to network. Edited: Oh, and you might want to buy your own mobile phone as well. Choose one so you can send and receive e-mail too.
Update: I greeted some strangers walking in the other day who happened to be investment bankers upon introduction. They went with the CEO to the locked room. A fax came in the other day that we are also being audited by the State Revenue Department. My plan B is B school next year. Due to the recent unrest here, I’m working harder than ever to get in my top choice during early admission while concurrently preparing for the (retake) Dec L1 Exam. I hope I’m not just paranoid. But this really feels like our doors will close.
For every door closed another will open.
FYI, b-school plan b is a pretty common story these days. be prepared for a tough admissions year.
Gecco Wrote: ------------------------------------------------------- > FYI, b-school plan b is a pretty common story > these days. be prepared for a tough admissions > year. Yea, or start shopping your resume around if you foresee your company’s demise… I mean, it couldn’t hurt, right? Though job-seeking is one of the worst processes ever, ugh.