When I joined Lehman in April 2007, the systems and processes imposed by the US part of our global team were very messy and required a large amount of man-power just to keep going. The philosophy seemed to be “long hours = good work.”
I’ve long wanted to clean this all up, but it’s just not been possible as it requires buy-in and enthusiasm from all concerned.
Since the Nomura/Barcap split of my group, however, I’ve had the opportunity to do that cleanup.
It’s very satisfying.
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