Intern Leaves Wall Street to Pursue Opportunities in the Porn Industry

Posted on by admin
Jennings/Vain

Former Lazard Asset Intern, Paige A. Jennings/Veronica Vain

Brokerdealer.com update courtesy of the New York Post.

For many young people, internships are a gateway to a career in the industry they intern in. For one intern, the doors opened for opportunities outside of Wall Street with help from social media.

A female intern at a blue-chip financial firm won’t be pumping stocks any more after reportedly quitting her stuffy Wall Street gig to become a porn star.

Paige A. Jennings, who moonlights under the stage name Veronica Vain, dropped her internship at Lazard Asset Management last week after her nude selfies taken in the bathroom of the firm’s Manhattan offices were discovered online, according to Business Insider.

“I just left a job on Wall Street for a porn career because I can’t stop masturbating at work,” Jennings, 23, wrote on Twitter Wednesday.

Jennings had been a part-time intern in the company’s alternative-investments marketing group since last June, Business Insider said.

But after her co-workers discovered the nude bathroom photos posted on her Veronica Vain Twitter account, she soon decided to seek other employment.

“It was a little awkward,” Jennings told the website BroBible.com about meeting with her boss after the pics went public. “However, he obviously couldn’t have me coming back to the office when likely just about everyone had seen me half-naked

online.”

Jennings, a recent college grad, previously worked as a stripper but didn’t see it as “a viable career path.”

She also said she would like to start a venture-capital fund centered around the adult film industry.

Jennings — who did not return requests for comment — added that she would like to appear as a contestant on the new X-rated Internet reality show “The Sex Factor.”

The porn competition, set in Las Vegas, is scheduled to be hosted by Duke University porn star Belle Knox.

Sydney Leathers, who went into porn after being Anthony Weiner’s sexting pal, said Jennings’ career move could be a bad decision.

“I mean, she’s a babe, but realistically, porn is rarely a great choice for anyone,” Leathers told The Post. “I don’t regret it, but some people do.”

For the original article, click here.

 

BrokerDealer Bonus Season a Bust?

Posted on by admin

wall_street_bonus-gif-scaled-500Brokerdealer.com blog update courtesy of Kevin Dugan’s article from 9 January in the New York Post.

With record fines this year, brokerdealers are preparing to receive lower than average bonuses from their bosses.

Wall Street might have to settle for the second-best caviar this year.

After a year of record fines, sluggish trading and low interest rates, bankers hoping for richer payouts should prepare to be disappointed when bonus season gets underway next week.

By most estimates, the pool of money set aside for Wall Street workers is expected to be flat with the previous year, when the industry took home $16.7 billion, or an average of $164,530 per person.

Last year, big banks were slammed by billions in fines and penalties — Bank of America paid the largest fine ever for a single company, $16.7 billion — for offenses ranging from toxic mortgage securities to money laundering to tax evasion.

“The fines have come to roost,” said Michael Karp, CEO and co-founder of headhunting firm Options Group. “The bonus pool and compensation are the most vulnerable for banks to make up the shortfall.”

While the overall bonus pool is expected to be flat, there will be gains in some better-performing business areas. Investment bankers, private wealth managers and securitized product traders could see bonuses rise by more than 10 percent, according to a research report from Johnson Associates.

That will be offset by declines for credit and stock traders, the report said.

Layoffs across Wall Street should keep individual bonuses from sliding too much for those who still have a job, even for those working in areas with smaller bonus pools, Karp said.

Wall Street had shed 2,600 jobs through October of last year, according to New York State Comptroller Thomas DiNapoli.

Morgan Stanley is set to be the first bank to announce bonuses, on Jan. 15, sources said. The bank is expected to have some of the biggest payouts because of its focus on wealth management, which has exploded as wealthier clients give banks more money to manage.

Citigroup and Goldman Sachs are expected to announce bonuses the following day. Citi’s traders will see their bonuses slashed by 5 percent to 10 percent after a weak year, said a person familiar with the company’s plans. That’s worse than earlier estimates that had the bonus pool level with the previous year.

Goldman’s investment bankers could see some of the fattest payouts this year, as the firm pulled in the most business during the busiest M&A year since the financial crisis, according to Bloomberg data.

JPMorgan Chase is expected to announce bonuses during the last week of January, while European-based banks typically tell their employees in February and March.

Morgan Stanley, Citi, and JPMorgan declined to comment. Goldman didn’t return a call seeking comment.