Job Title: Managing Director
Location: San Francisco
Submitted on: 02-Dec-04
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Job Title |
Workplace
Survey |
| Managing Director |
Schwb WAS a class act organization. For am ambitious self-starter -- it
was every employees dream. I felt that we were very productive and held
accountable for our assignments.
During my first two years, I felt that our marketing strategy was
coherent and the systems we were building closely aligned to that
direction.
After things began to spiral out of control in 2003, it became apparent
to many of us that our leadership was out of touch with the economy and
the customers. Personal Choice was a fiasco which consumed incredible
resources, dollars, etc. The same can be said for Cost Basis.
At the same time the Off-shoring startegy was not well thought out or
articulated. The way that the technology management tried to deploy it
was not cost effective (supposedly it would save $20MM per year -- in
reality it cost the firm more than it saved). It also was never
deployed in consistent fashion through-out the organization. It caused
confusion and brought morale down very low in many organizations. Full
time employees felt vulnerable but not provided with any roadmap.
In the end, Schwab and Schwab Technology devolved into very
disappointing organizations. The technology is still of a high
caliber. Leadership, however, is lacking and the opportunities for
ambitious folks to be promoted and grow organizationally is nil.
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