Employees of a large bank in the middle of a transformation, with a new owner taking over, are now feeling a bit uneasy. A new owner has stepped in, and while some staff are gamely brushing up on new etiquette, others are on the edge. The big question on their mind: what happens to me?
While initially, many were just bracing only for a name change, it looks like a leadership change is imminent now. For the moment, attrition numbers haven’t spiked, but some say it’s only a matter of time.
In a first-of-its-kind move, the top boss of a key regulator has opened his door for frank one-on-one chats with employees. The catch: meetings are strictly by appointment, and only for raising critical issues. But the very fact that the floor has been opened up is a welcome change. What sparked this openness is still up for debate. But some speculate it's social media chatter targeting a few seniors -- allegations that many dismissed as baseless. The posts clearly didn’t sit well with the boss. His message: regulators should be above coffee-counter gossip. The discussions, framed as a step toward rebuilding trust, did add a caveat, though -- no promotion-related talks.
This private equity firm, which floated a successful IPO earlier this year, got a rap on its knuckles by the regulator due to an “inadvertent error” in a stake purchase of an overseas asset. Buzz in capital market circles is that the fund may soon be in value-unlocking mode. And post the completion of internal restructuring of the foreign asset, it is likely to explore a domestic listing next year. And if all goes to plan, don't just expect one public debut. Two more portfolio firms may soon join the queue.
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