'The only way I can think of to differentiate among you is to see who is in the office in the wee hours of the morning'.
Bloomberg New reports that Moelis & Co. co-President Jeff Raich reminded top bankers in a meeting this week to treat young bankers well as the firm embarks on another hiring push, according to people familiar with the matter.
Raich, 51, addressed managing directors after industry forum Wall Street Oasis posted parts of an email that a “Moelis Staffer” sent to the firm’s analysts after discovering many of them weren’t in the office after midnight, according to a blog post on the website.
Here's some of the email that was allegedly sent to young bankers by someone at Moelis:
I just walked the floor and saw the following people in their seats:
I know that you are ALL working very hard and are stretched thin across multiple projects. Given that new staffings continue to flow in and you are all very near capacity, the only way I can think of to differentiate among you is to see who is in the office in the wee hours of the morning. I know that everyone works differently and you all likely have a docking station set up at home, but I have found that when you are truly jammed with no end in sight, you should stay in the office because the connection is faster, your associates (and potentially VP's) are in close proximity, and you have access to firm resources (office services, Bloomberg, etc.).
That said, this method isn't perfect and if you have any suggestions on how I can do this more accurately, I'm all ears. On the bright side, we only have a week and a half until our class dinner! Looking forward to blowing off some steam with everyone!
HITC wonders whether, if this email was sent by a Moelis staffer, it wasn't sent tongue-in-cheek.
Hit the link below to access the complete Bloomberg News article: