Monday, 22 September 2008

Marja Kooistra goes to T Rowe Price

Well, some good news. Someone has got a new job. Marja Kooistra has been hired by T Rowe Price to sort out relationships in Europe. What's that all about? I mean, don't get me wrong, I'm happy for the girl, but what will she be doing?

I have been speaking to Keith Busby, and he told me, 'I've got a bit of experience in this area. Basically, as we all know, in many firms there is a lot of conflict between financial shamans and money mystics and your traditional bankers and traders. They don't get on. The shamans and mystics have tried their best to make friends, but it's the jealousy, you see. I once did a few days relationship consultancy work for Goldman Sachs. This was in the early days. It only had a handful of mystical workers at that point. Well, one very well-known Goldman banker - I won't name him - came up to me, and oh, the foul language that spewed out of his mouth! It was like being down by the docks or something. It was absolutely shocking. You know, F this, F that, those fucking shamans. It was pure jealousy. And he was a very wealthy man. You would have thought he would have felt more secure in his position. But he was threatened by the shamans. Their strange ways, their ceremonial gowns, their - and, oh yeah, I did away with the gowns. They had to go. I told the shamans that if they wanted to fit in, they would have to wear suits. Made a small concession with the white sheets. That improved matters. They didn't seem so alien then. And it worked out fine. The shamans are an established part of the set-up at Goldman now.'

But Goldman Sachs is going to be regulated! Will things change?

I have been speaking to Arthur Simmons. He told me, 'There shouldn't be any trouble, but if there is, Goldman will just hide its financial shamans. Maybe the bank will put more of its shamans into basements - like the shamans committee in London. And just bolt the door, and pretend they don't exist. I'm surprised the bank wants to be regulated. Maybe it had no choice. It takes all sorts to make a world.'

Yes, it does. Oh, Marja, almost forgot about you. Congratulations on the new job!