How a Wall Street firm handles their fire drills may or may not say a lot about how they do their business, but the drills happen to differ greatly from firm to firm, much like their business practices, and we think a little further investigation could reveal some very telling trends.Deutsche Bank, for example, is demonstrating fantastic fire drill behaviour right now.
A tipster just told us that Deutsche Bank is in the midst of a fire drill right now, and we’d just like to say – kudos.
The drill is taking place after the market close aka, during happy hour, and they are actually practicing what to do in case of a run on flame. Get out of the building (and keep the alcohol away from the flames).
What does this mean in terms of their wider business practices?
It remains to be seen. So far we have completed only a trivial amount of research on Wall Street’s fire drills, but AIG is the front-runner right now.
Some firms have them, some firms don’t (someone at JPMorgan tells us he’s never had one – he’s been there for over a year), and AIG, for example, takes them really seriously (AIG designates special people – “fire wardens” with hats to lead packs out of the building safely).
Deutsche Bank could take this one if they have something better than hats. And as our investigation continues, who knows which firm will emerge the best.