A Middle Manager (Former Employee) – Lake Oswego, OR – July 11, 2016
Roughly 200 dedicated, honest people lost their jobs due to executive leaderships' massive greed, denial/panic, and general mismanagement of the organization. Despite a 20-year history, the business behaved like a reckless startup in every way. Even as the company was having to use new investment money to pay redemptions (a huge SEC violation), they continued to throw expensive golf excursions and luxury getaways for big fish, hired dozens of new staff for already bloated departments, maintained multiple corporate jets, and went forward with a million dollar office renovation. With the benefit of hindsight, it's obvious they were desperate to maintain the appearance of stability and growth to lure new money in the door. But just a few short weeks after being promised everything was okay at a $30,000 open bar Christmas party, we were in the midst of the most disorganized shut down ever. It's strange to say it, but if you're job hunting in the FinTech market, do your own Due Diligence before signing up with any small shop.
Nice office, lots of free lunches
Leadership believed SEC rules didn't apply to them