coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Aug 19, 2020 17:32:19 GMT
Extract:
“The economic shutdown this year caused customers to fear that their investments would underperform, so they withdrew, removing all liquidity from the platform,” he said.
(that is pretty much complete and utter nonsense, of course)
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
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Post by beagle on Aug 19, 2020 17:37:13 GMT
left... or had to go...
what would he do now anyway with Metro
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adrian77
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Post by adrian77 on Aug 19, 2020 18:07:44 GMT
no comment!
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iRobot
Member of DD Central
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Post by iRobot on Aug 19, 2020 18:43:22 GMT
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iRobot
Member of DD Central
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Post by iRobot on Aug 19, 2020 18:51:00 GMT
left... or had to go... what would he do now anyway with Metro The article has him down as leaving RS in July - before news of the Metro talks broke, apparently. Probably felt the strength of the the headwinds and decided the timing was right. Can't say I blame him. Going to be numerous casualties as a result of the acquisition. Been on the wrong side of that equation myself, and it's not a comfortable place to be. For those that are needed and are retained, I can see them having their focus directed away from 'legacy' RS and over to the new, bright and shiny "Mega MB/RS" - no doubt ultimately to the detriment of existing RS lenders....
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
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Post by beagle on Aug 19, 2020 18:59:18 GMT
left... or had to go... what would he do now anyway with Metro The article has him down as leaving RS in July - before news of the Metro talks broke, apparently. Probably felt the strength of the the headwinds and decided the timing was right. Can't say I blame him. Going to be numerous casualties as a result of the acquisition. Been on the wrong side of that equation myself, and it's not a comfortable place to be. For those that are needed and are retained, I can see them having their focus directed away from 'legacy' RS and over to the new, bright and shiny "Mega MB/RS" - no doubt ultimately to the detriment of existing RS lenders.... Perhaps but 'Chief anything' type roles are surely not less than 6 months notice (or rarely 3 months) suggesting he actually quit/left/whatever in January (pre covid suggesting it was not a Covid issue) or April (one month/6 weeks into the seriousness of Covid suggesting he left before having a full picture) both timings would be a strange time to quit. I am sure there will lose jobs but that is M&A.
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Greenwood2
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Post by Greenwood2 on Aug 19, 2020 19:09:11 GMT
The article has him down as leaving RS in July - before news of the Metro talks broke, apparently. Probably felt the strength of the the headwinds and decided the timing was right. Can't say I blame him. Going to be numerous casualties as a result of the acquisition. Been on the wrong side of that equation myself, and it's not a comfortable place to be. For those that are needed and are retained, I can see them having their focus directed away from 'legacy' RS and over to the new, bright and shiny "Mega MB/RS" - no doubt ultimately to the detriment of existing RS lenders.... Perhaps but 'Chief anything' type roles are surely not less than 6 months notice (or rarely 3 months) suggesting he actually quit/left/whatever in January (pre covid suggesting it was not a Covid issue) or April (one month/6 weeks into the seriousness of Covid suggesting he left before having a full picture) both timings would be a strange time to quit. I am sure there will lose jobs but that is M&A. Except that you don't want these people hanging around if they quit so they are 'sometimes' escorted off the premises the same day, even if you have to pay them for a few months.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
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Post by beagle on Aug 19, 2020 19:11:13 GMT
Perhaps but 'Chief anything' type roles are surely not less than 6 months notice (or rarely 3 months) suggesting he actually quit/left/whatever in January (pre covid suggesting it was not a Covid issue) or April (one month/6 weeks into the seriousness of Covid suggesting he left before having a full picture) both timings would be a strange time to quit. I am sure there will lose jobs but that is M&A. Except that you don't want these people hanging around if they quit so they are 'sometimes' (escorted off the premises the same day). That is true, yes, but you don't change your linkedin within a day (surely one is on gardening)? Either way I do not buy it was a resignation of choice. In times like this you need to double down.
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jlend
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Post by jlend on Aug 19, 2020 21:28:47 GMT
Seemed like a nice guy and knowledgeable when I met him last year at the Ratesetter office.
Whatever the reason for his departure I personally wish him well for the future along with the rest of the Ratesetter team whatever they end up doing.
RateSetter served me well since 2010, until I sold out early this year.
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