Post by irac on Jul 23, 2007 11:33:16 GMT 1
I am good friends with the manager and business accounts person for our local SB (our company account is there), and they constantly relate horror stories from top to bottom of the company. There are some really fine staff, great managers, and SG have the ability to make something happen, but in the middle and sides are old commies (ie HDZ) who just wait for handouts.
A fact that was mentioned by the very kind French PA to the President is: more than 100 employees on permanent sick or maternity leave. Over 20 employees who have been on the payroll since 2000 yet remain unaccounted for (maybe they're just working so fast they can't see them!). 4 main banking offices were sold to and now rented from former Directors with rents "not at market level" - in one case double the norm. Properties formerly belonging to the bank no longer under the banks title, yet which were never sold or signed away.
Justapixel is right when saying about adaptation, and it is a precarious balance. One bank that has worked it well is Erste.
We're in business relation with Splitska Banka and it's a can of worms. SG were unlucky to open it and are now having a host of problems. From what I've seen, SG people are as clueless as SB people, but more in distress.
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A fact that was mentioned by the very kind French PA to the President is: more than 100 employees on permanent sick or maternity leave. Over 20 employees who have been on the payroll since 2000 yet remain unaccounted for (maybe they're just working so fast they can't see them!). 4 main banking offices were sold to and now rented from former Directors with rents "not at market level" - in one case double the norm. Properties formerly belonging to the bank no longer under the banks title, yet which were never sold or signed away.
justapixel said:
irac said:
Societie General have found that with Splitska. They bought in good faith but were left with largely outdated equipment (there was severe asset stripping in the weeks before the sale went through), massive debt (properties were mortgaged to the hilt, or else rented with outstanding bills) and employees who were being paid NOT to come to work. They will probably turn it around if they look further down the line, but it is a nervy time. Justapixel is right when saying about adaptation, and it is a precarious balance. One bank that has worked it well is Erste.
We're in business relation with Splitska Banka and it's a can of worms. SG were unlucky to open it and are now having a host of problems. From what I've seen, SG people are as clueless as SB people, but more in distress.
.