They are in the process of giving up prop.trading. In London, they have got rid of almost all their traders (fired three graduate intakes at once) and have just fired their elderly risk manager. The partner who runs the London office is way beyond his bus-pass and will soon want to retire to count his shekels.
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ghco...yes or no?
- Thread starter ebayuser
- Start date
Quote from squadron leader:
response to Mr B:
i'm biting my tongue here...because i know a couple of guys who wrote negative things on this website and had letters from ghco solicitors on their doormats a couple of days later threatening to sue if an apology wasn't forthcoming.
Is'nt that an un truth? Do you actually think people believe you?
Quote from bsmeter:
Is'nt that an un truth? Do you actually think people believe you?
why don't you belive me? and why would i make it up?
everybody knows how litigious ghco are. i am talking from first hand experience here.
unfortunately the thread i am talking about from a couple of years ago has been deleted...suffice to say it was a pretty accurate description of ghco...which they took offence to and had ET remove it. the two main protagonists of the thread...one an ex-risk manager who was sacked for gross misconduct and later became one of the only people i know to successfully sue ghco, and the other a former ghco trader, both received letters from ghco solicitors.
i saw the letter. it was hilarious. And if the thread was still on ET, I would direct you to it, as the trader copied his response to ghco onto the thread...and got absolutely destroyed by the rest of us at our new company for folding so easily!!!!!
believe me now bsmeter? or are you a ghco lackey per chance?
Quote from javs5150:
Can you please name these other places.
any other firm will give you at least a 75% split in london now....most more than that.
brokerage will be cheaper as well at some other places. you will not get a salary though.
the salary at ghco has now been capped at 50k - whereas before it was capped at 100k.
other places in london...think schneider, sigma, elite (a curvalue offshoot), ghf, pyne.
You must view your relationship with your clearer/employer as a key business relationship, and decide whether it makes sense to associate yourself with that company. You need to look at GHCO's track record in its treatment of people who work for it and decide whether you wish to enter into a contractual relationship with them. The trader's contract is very onerous on the trader, and is skewed heavily in GHCO's favour: they can keep you for five years; if you walk out they can stop you working for six months. Yet they can fire you with a week's notice. They use the threat of litigation and the fear of the costs that defending against the company's actions to keep their staff in line. A contract trader once sued them for breach of contract: in the High Court the judge perceptively asked Goldenberg whether his lawyers were his HR department. You should think very carefully and take legal advice before entering into a contractual relationship with an organisation like GHCO. Personally I would trust an Iraqi street vendor with a remote control device in his hand before I would trust GHCO.
there were some good traders in the nyc office, i would be interested where they would be trading if ghco is slowly getting out of the prop game. My take that is they'll become customers .
I'm also looking at when the bond volume is going to pick up since ghco traders accounted for a good portion of the intraday volume. Overall ghco was a place where you had to take it for what it was, good & bad
I'm also looking at when the bond volume is going to pick up since ghco traders accounted for a good portion of the intraday volume. Overall ghco was a place where you had to take it for what it was, good & bad