Bank of America’s equity sales team were told they must attend and log at least 30 client meetings a month, Bloomberg News Hugh Son reported.
That’s a really high number, especially since they’re basically chained to their desks during the trading day.
And because the bar is so high, some of the employees seem to be having trouble meeting the quota and are fudging their meeting logs ahead of year-end meetings and bonus time, the report said citing unnamed insiders.
The salespeople were given this client meeting quota mandate back in August by Soofian Zuberi, the head of global equities distribution, the report said.
The basic premise is to get them to interact more with clients in person instead of just phone calls and emails.
It’s actually a really good idea to get face-to-face interaction with clients, but an average of 1.5 meetings per workday is a little much.
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