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Equity executive staff shake-up
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JabaBoeku
#1 Posted : Monday, April 12, 2010 11:06:41 PM
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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
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Joined: 12/13/2006
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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
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Joined: 1/7/2010
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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
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Joined: 6/27/2008
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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
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Joined: 2/10/2010
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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
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Joined: 7/24/2008
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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
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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
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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
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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
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Joined: 4/28/2008
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mkonomtupu wrote:
"R & R= Results or Resign".


Totally Concur!!That is so Mr. Mwangi!
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MaichBlack
#11 Posted : Tuesday, April 13, 2010 4:00:22 PM
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Joined: 7/22/2009
Posts: 7,460
Indecision is one of the worst vices in business. A shrewd business man realizes what has to be done TODAY and does it. This is despite what he thought yesterday or how it makes him look.

As someone pointed out, a business is not a charitable organization. If you are not contributing to the bottom line (and it doesn't seem like you'll do so in the 'near' future) you've got to go.

Employees leaving a company due to re-organization is not neccessarily a bad thing. If it was due to wrangles or the fact that the company can't simply afford them (literally) then that's another thing. I still have faith in JM.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Jangwa la Jangili
#12 Posted : Tuesday, April 13, 2010 4:39:40 PM
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Joined: 10/9/2009
Posts: 311
James Mwangi can never be faulted for being indecisive. Yes, he is a megalomaniac that hardly tolerates anyone that demonstrates either independent thinking or, like Dr Gakuru, has a name out there that is not derived directly from a relationship with him. Equity is run by a close knit kitchen cabinet mainly from the old muiganania days that renders organizational hierarchy irrelevant. Dont be surprised to find a middle level manager with much more clout than a director. Big titles for some of the new hires can be nothing more than an ego massage but carrying zero real authority. But the guy is a shrewd business man no doubt and EB may yet have even better days ahead.
Katika Jangwa la Jangili ndipo Pwagu hupata Pwaguzi.
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Flagship
#13 Posted : Tuesday, April 13, 2010 8:13:03 PM
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Joined: 12/17/2009
Posts: 11
just bcoz gakuru formulated the 'vision 2030' does'nt mean he can get a gd strategy 4 eb. I think most of these mgr's were misplaced. All those with dr b4 their shd go bk 2 the lecture theatre n leave xperience run the show. Jmis just right
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VituVingiSana
#14 Posted : Tuesday, April 13, 2010 10:52:11 PM
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Joined: 1/3/2007
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Cut the dead wood... Let JM continue expanding Equity where it makes cash not losses...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Gordon Gekko
#15 Posted : Wednesday, April 14, 2010 7:40:58 AM
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Joined: 5/27/2008
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By the way, I have been waiting for a bank credit for the dividends since 9th. Has anyone received his/hers? I expect a seven digit dividend, hence my extreme interest.
n.b the seven digits include two decimal places
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Sober
#16 Posted : Wednesday, April 14, 2010 8:18:06 AM
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Joined: 11/27/2007
Posts: 3,604
I believe mr. Mwangi is well placed to make decisions in as far as the company is concern. He has all the facts (some of which we will know after the next general elections). He knows something we dont.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Wa_ithaka
#17 Posted : Wednesday, April 14, 2010 11:34:23 AM
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Let me see how Q1 results look like before deciding my next move...
The Governor of Nyeri - 2017
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Sober
#18 Posted : Wednesday, April 14, 2010 1:30:27 PM
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Joined: 11/27/2007
Posts: 3,604
This is one counter that on most cases records an upward trend even with negative news. Yesterday it traded at am average of 16.15 up from monday's 16.00 shares on offer were 3.3million although only 2.2mn were traded.

African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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jikome
#19 Posted : Thursday, April 15, 2010 3:10:47 PM
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Joined: 8/16/2006
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This could have been done differently, it's telling of the style of management and vision that the head of the organization has
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guru267
#20 Posted : Friday, April 16, 2010 6:12:02 AM
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Joined: 1/21/2010
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Sober wrote:
This is one counter that on most cases records an upward trend even with negative news. Yesterday it traded at am average of 16.15 up from monday's 16.00 shares on offer were 3.3million although only 2.2mn were traded



@sober i dont think negative news will change Q1 results hence the price action...
Mark 12:29
Deuteronomy 4:16
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