Merrill vs BAC
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BankofAmigo… that’s funny. You just brought nightmares back in my life mentioning SixSigma… god do I hate those days of yore. My former firm went nuts with that back in 01’, I was stuck and designated the representative from our office. I had to go through multiple training sessions, earn belts… ended up ‘brown’ then regular attendance at these horrifically boring quarterly meetings… ugh. Black belts were so proud with their metrics showing ‘saved’ money and proven impact on the P&L in terms of profits. Looking back at it, I think we spent more time figuring out how to make it look like we were adding value vs. actually making real impact. Is Six Sigma engrained at B of A? Please tell me no
Ingrained is too mild. Somebody read a book an have made it the new additive to the water cooler. I will say, though, that Six Sigma was not really applied (rectally at least) down to the lowly “client facing associate”/FA. They did go into a get approval for a fedex mode a couple of times, declare approved pens (which didn’t work) etc. Nuisance yes, but not too overbearing, in my opinion. But, I agree, it is an enterprise which I believe costs more to maintain than produce results. The bank has a legion of people ingrained on figuring out what they have done to generate something lately for some report tracking something which rarely has to do with actual revenue. It is a very spreadsheet run company with mid level managers trying to claim some victory or savings some way and very little focus on actually doing business.