Wednesday, December 26, 2007

Wall St. alpha male checking himself

About Todd Thomson, ex-CEO of Citigroup's Global Wealth Mgmt and his splashing of company money around Maria Bartiromo. Summary paragraph of the Street's culture now:

There is a new deal for the alpha male on Wall Street. He can make his millions, and he can still strut and preen and feel important. What he can't do is sexualize his financial clout. In the late 1980s it was fairly routine for men on Wall Street trading floors to order up strippers; when a prominent bond salesman was fellated in a conference room just off the trading floor his colleagues were more amused than shocked. Not long ago a pair of Morgan Stanley employees was fired for merely attending a strip club in their off hours. As one of my former classmates put it, "the decorum in the marketplace has changed.''

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