If you're an analyst or associate at Goldman Sachs these days, you get Friday nights off. Some Goldman juniors are said (by others) to spend their weekends in states of mild debauchery. Others catch up on sleeping. Others spend their time....making dog food.
Goldman associate David Nolan and analyst David Glynn fell into the latter category. Inspired by a flatulent family dog whose digestive problems disappeared when fed home-cooked food, they began spending their weekend away from Goldman preparing dog food, and not just for "Rudy".
"We were leaving work on a Friday, cooking dog food Friday night, packing it Saturday, and delivering to the dogs of friends and family,” Nolan told Business Insider. "It was a basic homemade recipe — one protein, one carb — and Rudy's problems seemed to drop away..." They started working with paying customers and, “more people kept coming.”
The resulting dog food business, Butternut Box, was so successful, that Nolan and Glynn eventually left Goldman and made a go of it with funding from two of their former GS bosses. Nowadays they don't have to work weekends, have 12 employees working in a 3,500 foot factory producing the food during the week, and have raised £1m in seed funding to expand further. As banker side-gigs go, Nolan and Glynn's was one of the more unusual ones, but they're not alone: Michael Rose, a former analyst at Morgan Stanley went to work for Berlin-based "Pets Deli" in March 2017.
Separately, Deutsche Bank may be rewarding its employees with additional holiday, but it's simultaneously curtailinganother perk: Amazon deliveries to its London office.
While Jamie Dimon and Jeff Bezos get along well personally, J.P. Morgan does not accept personal deliveries at its office, and now Deutsche Bank is adopting that same policy, calling Amazon Prime a “scourge.” That is part of a broader plan to lessen the stream of vehicles arriving at its London offices, according to Financial News.
The good news is that the deliveries won't be stopped altogether. All personal deliveries will in future be taken to a location offsite and then will only come to the office once or twice a day for people to collect.
Even as it prepares to open a new London office, Deutsche Bank is making preparations for Brexit. CEO John Cryan said that it was about to rebook the institutional clients in securities trading, which were previously looked after in London, in their computer systems to Frankfurt. (Handelsblatt).
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Here’s what it takes to be an official member of the top 1%. (Bloomberg)
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