The article,”Amazon Sues New Target Executive” caught my eye in today’s The Wall Street Journal. Amazon, the executive’s former employer, is concerned he will leak trade secrets to his new employer, Target. Watch my video blog below to learn more about the case and my thoughts on the matter. If you have any questions, please feel free to contact me at firstname.lastname@example.org.… Read More
With news of Morgan Stanley’s plans to make significant cuts in its debt and currencies ranks across all offices (Wall Street Journal, December 1, 2015, page C1), the importance of having your “employment disaster recovery bag” at the ready is highlighted. Included in that “bag” should be your offer letter; any confidentiality, non-solicit, non-compete, work for hire and/or garden leave agreement; employee handbook; and any document or plan relating to your equity, deferred compensation, bonus, pension, or any other aspect of your employment.… Read More
I was recently interviewed by Fundfire, a financial services industry on-line publication, regarding a Morgan Stanley financial advisor team that was sued by their former employer, J.P. Morgan, after they jumped ship to Morgan Stanley earlier this year. J.P. Morgan has alleged breach of contract, misappropriation of trade secrets and unfair competition among others.
Last year, J.P. Morgan became a signatory to the Protocol for Broker Recruiting, an industry agreement that typically supersedes the non compete and non solicit clauses contained in contracts advisors sign with firms, allowing them to retain basic client information and contact clients should they switch firms.… Read More
The Omnicom-Publicis deal blew up due to an apparent “culture clash” and an inability to work out the details towards integration. According to the Wall Street Journal (May 12, 2014, page B4), since “Omnicom pays better than [Publicis]” there was disappointment among Publicis staffers as many anticipated increased compensation coming their way.
While that may be the case, integration of two behemoths can often lead to reductions in force, making the disappointment over pay rates the least of concerns.… Read More
Newsworthy items in executive compensation arena include stories on Cheniere Energy and Barclays:
- Cheniere Energy Inc. pays its CEO $142 million in 2013, apparently one of the largest pay packages in the U.S., despite lack of profit or attaining its exporting goals. Consider that Cheniere “has lost money every year since its founding in 1996.”
- Barclays’ top U.S. executive departs due to “acrimony” over pay.
… Read More
As the official days of summer wind down and Labor Day weekend approaches, many other transitions will be under way. We are anticipating the reopening of schools, resumption of college and graduate classes, more traffic and new traffic patterns, and businesses focusing on the approaching fourth quarter.
Next week, we must re-adjust the pace of our lives back to the pre-summer norm.… Read More
As today’s Wall Street Journal article, “Fund’s Employees Face Uncertainty” indicates: “No major financial firm has survived a criminal indictment.” With the criminal indictment of SAC Capital Advisors, many of its current employees are confronted with a difficult decision. The choices are limited – stay or go.… Read More
A recent Wall Street Journal article New Job, New Steppingstones (page B7) discusses how many companies “have centralized more functions,” thus altering the traditional path to the CFO’s office for many finance executives. An explanation lies in the trend to outsource many financial functions. Those seeking the CFO spot are now required to offer skills in a broader range of areas.… Read More