JOHN GAPPER: Banks and the absence of any bond with employees
Dismissed Deutsche Bank staff, as with most investment banks, had no delusions about loyalty; they work for money, not anything meaningful
It is the mark of a strange employer to pay some of its employees millions each year but, when it decides to let them go, instruct them to leave the building rapidly, clutching their belongings.
Since the failure of Lehman Brothers in 2008, the scene witnessed on Monday at Deutsche Bank in London, New York and Hong Kong has become familiar. It was regarded internally as evidence of rare humanity that Deutsche’s departing equity traders and sales people were permitted to remain in its London headquarters for three hours before being ejected.