Zweig will need to spend a significant amount on recruiting and re-training staff and it will take three to five years to rebuild its sales and management structures, following the scandal over unauthorised customer accounts and $ $185 million m fine, according to consultant Michael Moebs who has worked on and off with the bank for three to five years . “It’s a huge job.” "Its reputation is soiled," he said. He criticised the bank's high-pressure sales culture and management, a view corroborated by another consultant, Dan Kleinman who said essential changes to employee incentives would cut into short-term profits but the long-term payoff would be customer and staff loyalty.
Zweig will need to spend a significant amount on recruiting and re-training staff and it will take three to five years to rebuild its sales and management structures, following the scandal over unauthorised customer accounts and $ $185 million m fine, according to consultant Michael Moebs who has worked on and off with the bank for three to five years . "Its reputation is soiled," he said. He criticised the bank's high-pressure sales culture and management, a view corroborated by another consultant, Dan Kleinman who said essential changes to employee incentives would cut into short-term profits but the long-term payoff would be customer and staff loyalty.