> below-market compensation
> very political
> Absolutely no respect for employees. Senior management treats the entire division as if it's being done a favor for working for the bank. Important strategic decisions are communicated poorly or not at all
> too flat; unable to attract talent from other banks
> business model is focused on the German market; very little prospect of growth otherwise
> No-can-do mentality, very beaurocratic, with few shining exceptions
> below-par support functions (IT etc.) *ensure* daily obstacles to doing business
> Recruitement policy (getting people fresh out-of-college and developing them) means there is practically no inflow of experienced people and the business remains "esoteric".
> As many departments are under- or not developed (eg brokerage), it is difficult to compete against banks that offer services across the entire IB spectrum