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Equity executive staff shake-up
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JabaBoeku
#1 Posted : Monday, April 12, 2010 11:06:41 PM
Rank: Member

Joined: 4/28/2008
Posts: 53
According to Business Daily (April 13), Equity has just sent home Key Executive & quite frankly senior managers in finance, IT, Risk Mngt. Plus wound-up their IB division!

Is there more than meets the eye here?

Is there fire burning in this house?
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smano
#2 Posted : Tuesday, April 13, 2010 7:26:46 AM
Rank: Elder

Joined: 12/13/2006
Posts: 2,589
Out of the 58M in losses EIB reported in the last year, 55M was salaries and wages!

I'm not a finance expert but that was clearly a cash cow whose fate was inevitable...I wonder what ramifications the move will have on both EB and the stock but they can't be positive, can they?
BEER IS LIVING PROOF THAT GOD LOVES US AND WANTS US TO BE HAPPY!
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Wa_ithaka
#3 Posted : Tuesday, April 13, 2010 8:12:54 AM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Organisation and decision-making structure needs to be updated to reflect a top 5 bank.

Move into IB was a massive c*** up
The Governor of Nyeri - 2017
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mukiha
#4 Posted : Tuesday, April 13, 2010 9:06:37 AM
Rank: Elder

Joined: 6/27/2008
Posts: 4,114
EQT appears to be losing focus.
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mkonomtupu
#5 Posted : Tuesday, April 13, 2010 9:42:51 AM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
Equity has just been hit by the bug- instant success. What's wrong with James Mwangi?- one-man show with the tag line "R & R= Results or Resign" he wants instant profits and exponential growth. That kind of management belongs to the the hedge-funds and now Equity is spreading the bug to HF.
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sheep
#6 Posted : Tuesday, April 13, 2010 10:58:07 AM
Rank: Veteran

Joined: 7/24/2008
Posts: 781
Equity is officially a slow grower.Gone is the era of exponential growth,unless your living in fantasy world.DTB is the way.
The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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Scubidu
#7 Posted : Tuesday, April 13, 2010 12:29:40 PM
Rank: Veteran

Joined: 9/4/2009
Posts: 700
Location: Nairobi
EIB's performance was a big joke and the universal banking model seems to be failing the test with CFC and Equity going into IB. I think Dr Mwangi would make a good politician, likes you today, doesn't need you the next...shrewd operator. I think the business will flourish from all this and apart from the one-off expenses possibly in Q1, he'll get his focus back. Exponential growth is not possible but the current monetary regime favours equity's model. I'm buying this one.
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
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Ngalaka
#8 Posted : Tuesday, April 13, 2010 12:36:18 PM
Rank: Veteran

Joined: 10/29/2008
Posts: 1,566
It is in order to weed out dead wood.
Business is not charity.
Shareholders need results, good results.
Whoever is not helping James Mwangi to deliver those, needs to be shown the door.
Isuni yilu yi maa me muyo - ni Mbisuu
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mwala
#9 Posted : Tuesday, April 13, 2010 2:01:55 PM
Rank: Member

Joined: 9/22/2008
Posts: 79
i have started smellimg a rat,if i smell the second rat i dont know what will be happening
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JabaBoeku
#10 Posted : Tuesday, April 13, 2010 3:37:45 PM
Rank: Member

Joined: 4/28/2008
Posts: 53
mkonomtupu wrote:
"R & R= Results or Resign".


Totally Concur!!That is so Mr. Mwangi!
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