ArabianBusiness.com - Middle East Business News
Saturday, 21 November 2009 12:54 UAE time

YOUR DIRECTORY /

| Share |

Credit Suisse traders keep rockin’ through firings

by Dawn Kopecki on Sunday, 28 June 2009

The lead singer of aged inventory spent last year looking for a job after cutbacks at Credit Suisse Group AG. Three other members of the same band, formed by mortgage-bond traders at the bank, no longer work there.

The group has kept playing, belting out covers of U2’s ‘Vertigo’ and Lynyrd Skynyrd’s ‘Gimme Three Steps’ even as members have been shaken by the financial collapse. Front-man Allen Oppici, 45, and saxophonist Jason Weyeneth, 30, are now working elsewhere on Wall Street, trumpeter Mike Marriott retired, and vocalist Carla Lynne Hall, 41, has changed careers.

“It’s the music that keeps us together,” Marriott, 46, said from his vacation home in Naples, Florida. “The fact that I’m hanging out at the beach and a lot of guys have left the firm hasn’t diminished our desire to play together.”

Story continues below
advertisement

Aged Inventory, named for a bond that sits in a trading book for more than 60 days, is one of three acts with talent from mortgage-bond dealers playing in New York at Refi Rock, a financial-industry charity fundraiser that has expanded to twice a year from annually.

“It’s great when all these people work so hard and then you can go to an event like this and look at your coworker up on stage and for a minute, they’re a rock star,” said organiser Russell Middleton, 47, a mortgage-bond trader who ended up at JPMorgan Securities Inc after losing his job twice since 2007.

More than 183,700 Wall Street workers have been fired in the past two years amid the worst financial crisis since the Great Depression, according to Bloomberg data.


| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

From  Current Issue

SHARE PRICE CHECK

RELATED LINKS

  1. Bear Stearns»
  2. HSBC Holdings plc»

 EMAIL ALERTS

  1. Bear Stearns

  2. Credit Suisse Group

  3. HSBC Holdings plc

  4. Culture & Society


Tell us your story

READER COMMENTS

  1. Somali pirates free UAE-owned cargo ship 02
    21 Nov ' 09 at 07:58
    In the old days pirate ships were blown out of the water as soon as spotted.Now they have to wait until they attack a ship and then...   More  »
  2. UAE announces Eid and National Day holidays 01
    20 Nov ' 09 at 15:56
    Eid and National Day are two great occassions and very close to each other. It would be a great act for the UAE authorities to extend...   More  »
  3. Where have all the optimists gone? 01
    20 Nov ' 09 at 16:54
    Dubai unfortunate is not more in fashion, the bubble was big , the growing went fast and the down turn even faster.Many of my clients...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM