Sometimes pictures do really tell the tale. The above pic is UBS’s trading floor in Stamford in 2008. Below is the same floor in 2016.
I couldn’t help but think this should give people good context on how the industry has shrunk. Make no mistake, the number of experienced workers exiting the market is not a good sign.
More and more financial firms are chasing cheap and cheerful staff at the expense of experience. In a world where knowledge of previous cycles is so invaluable we have the intern pilot flying the plane through a hurricane. This won’t end well.