Times are entertaining at the renowned finance firm, DE Shaw. We are witnessing a tale of epic proportions that is taking place at the prominent Wall Street entity where Jeff Bezos used to work (yes, that Jeff Bezos).
The tale involves an individual who is a director at the firm. What is it about? One director who was fired because of his unwanted sexual advances that riled up a few people at DE Shaw.
The executive is back with a passion, and DE Shaw now must fight to protect its territory. It is doing precisely that in the industry.
DE Shaw reiterated its non-compete agreements with employees.
Given that this would speak of Michalow’s reputation especially if a woman takes the step to leave DE Shaw in favor of his future firm, some DE Shaw’s non-competes as a way of prohibiting employees from working with Michalow.
Whatever the case may be, it is interesting, to say the least. That is why, now that September is about to end, it would be curious to witness if any DE Shaw employees leave the firm to go and join forces with Michalow.
Seeing that the hedge fund is going to what could be termed as extreme lengths to keep employees from joining Michalow, it raises a question of why employees would trust someone who has been termed as exhibiting inappropriate behavior in the past. Having worked with the man, they would surely have seen something that would automatically keep them from working with him?
The panicked behavior exhibited by DE Shaw suggests otherwise.
Since the date of the ultimatum has passed, those who were on board with signing the agreements have already signed them, and those who didn’t want to do so may have parted ways with DE Shaw.
This means that the next few weeks will be crucial in telling everyone how the firm’s attempts to keep its employees under constrictions turned out for itself. All in all, it is going to make for a very interesting period for those keeping tabs on DE Shaw and Dan Michalow.