Accuracy might not be a strong point

Javid made his money in banking during the 2008 period. That says most that needs to be known.

Well, no, not really, that’s when he left banking.

Javid had an 18-year City career where he rose to become a Board member of Deutsche Bank International.[20] Javid joined Chase Manhattan Bank in New York City immediately after graduation, working mostly in South America. Aged 25,[a] he became a vice president.[21][24]A 2012 article says he was actually vice-chairman.[25] He returned to London in 1997, and later joined Deutsche Bank as a director in 2000. In 2004, he became a managing director at Deutsche Bank and, the following year, global head of Emerging Markets Structuring.[26]

In 2007, he relocated to Singapore as head of Deutsche Bank’s credit trading, equity convertibles, commodities and private equity businesses in Asia,[27] and was appointed a board member of Deutsche Bank International Limited.

He left Deutsche Bank in 2009 to pursue a career in politics. His earnings at Deutsche Bank would have been roughly £3,000,000 a year at the time he left[28] and the Evening Standard once estimated his career change would have required him to take a 98% pay cut.

16 thoughts on “Accuracy might not be a strong point”

  1. What a good idea. Put another banker in charge of the NHS. His experience of large scale service industries will be so valuable.

  2. “He left Deutsche Bank in 2009 to pursue a career in politics. His earnings at Deutsche Bank would have been roughly £3,000,000 a year at the time he left[28] and the Evening Standard once estimated his career change would have required him to take a 98% pay cut.”
    Question: Motivation?

  3. BiS – 2008 and the GFC? The credit trading business probably collapsed overnight. And I can’t see how the converts, commodities and PE would make up for that, at Deutsche, in Asia.

    Doesn’t explain why UK domestic politics though.

  4. @Ducky McDuckface

    “Doesn’t explain why UK domestic politics though”

    ……. lack of competition?

  5. Were I a former Chancellor seeking to revive my cabinet career I would accept Boris’s offer only on the condition that he kept his timetable to the letter.
    Then when it turned out to be a success I’d let it be known that it was I, the mighty Saj, who set the people free.

    But then I woke up…

  6. Dennis, Pointing Out The Obvious

    Given the fact that Murphy is too lazy/stupid to take two minutes to fact-check a man’s career via Google tells you one thing: He’s more than qualified to work as a journalist in the USA.

  7. AndyF – may be, but then it looks like he got into politics early, and had a spell as an adviser to Guiliani whilst in the US, and Gary Streeter while in the UK in the mid-90s. So, post-GFC, why not give the hobby a go?

  8. It used to be usual enough. Go into business/banking/the law for 20 years, make a pile, then do something more interesting. Or more likely to get a gong, Or summat. Barrister, commercial QC, judge. Banking, MP, minister. Etc. Wasn’t unusual as a career path at all.

  9. Yeah, I had Heseltine in the back of my mind, and Javid only looks odd in that it isn’t PPE, intern, researcher, SpAD to safe seat.

  10. Bloke in North Dorset

    Completely OT, but I could see Spud getting the wrong end of this stick.

    We’ve just had a couple of weeks touring Devon and Cornwall in our motorhome and there appears to be a shortage of staff in the hospitality industry. Mevagissey was heaving on the night we spent there, every where that was open was fully booked, but one pub on the harbour was closed due to “staff shortages” and another had its kitchen closed for the same reason.

    I mentioned it to my son this evening and he said that the Castleman restaurant (reasonably famous round these parts) was having to close 2 days a week because they couldn’t get staff.

    It turns out that its not Brexit, but Covid related. When the government decided to shut the economy down many hospitality staff were either made redundant or furloughed. Most of them went off to get new jobs but now can’t come back because of the risks. If the government shuts the industry down again they won’t qualify for redundancy or furlough so can’t take the risk.

    So we’ve now got chef’s and front of house staff driving delivery vehicles etc whilst their industry is screaming for them to come back.

    Madness on stilts.

  11. Javid only looks odd in that it isn’t PPE, intern, researcher, SpAD to safe seat.

    Plus a spell in a PR/lobbying shop to create the fig leaf of a ‘proper’ job in commerce. I’ll take bankers any day.

    @BiND – another problem is that COVID testing throws up symptomless cases/false positives in young staff who then have to self-isolate. That’s probably less of a problem where you’ve been but is common in the NW.

  12. Tim

    You seen his post on the ‘five evils’ paralleling Beveridge – seems to be, in effect anything that either: facilitates a challenge to his ideological beliefs or prevents him being allocated an office paid for by the taxpayer.

    Should be something in there for you certainly….

  13. I predict that stress will cause Murphy to catch COVID a third time fairly soon and possibly a fourth time just before winter.

  14. “It turns out that its not Brexit, but Covid related. When the government decided to shut the economy down many hospitality staff were either made redundant or furloughed. Most of them went off to get new jobs but now can’t come back because of the risks. If the government shuts the industry down again they won’t qualify for redundancy or furlough so can’t take the risk.”

    That chimes with my friend’s experience. She owns and runs a restaurant in Pembrokeshire, and has largely been closed throughout covid, as her building is entirely unsuited for any social distancing, its just not viable to run on the number of covers that would be allowed by the regulations. She’s lost all her part time casuals who would fill in at busy times, and 2 of her older staff (who were approaching retirement) have decided that they wish to retire rather than go back to work. Were she to open tomorrow her staff would be down about half in number and a third in hours. She’s most likely not going to reopen, she is approaching retirement herself, and is looking to close the business down, rather than face all the ludicrous regulations that the local council ‘covid inspectors’ (dread phrase, its like something out of 1984) are demanding. Bang goes about 100k of tax revenue……….

  15. Landlord of one of the local pubs did a spot of delivering driving for one of the supermarkets, must have been one of the chefs did a spot of labouring, several bar staff been working in the local shops.

  16. Bravefart, by winter Herr Oberst Professor Kartoffel will be suffering the effects of long Covid.

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