March 11, 2008
The meaning of life at work
You are 40 years old, head of China investment banking for Merrill Lynch, the pride of your family and clearly destined for greatness. So, Wilson Feng, what do you say to the Bloomberg reporter who phones you up and asks for an interview?
“I want to change my life,” Mr Feng said. “It’s a nightmare. My father won’t recognise me if I stay in investment banking.”
Mr Feng is off to go and work for a state-owned Chinese company. “Salaries at state-owned enterprises are low compared with investment banking, but you can have a better life,” he explained. Merrill Lynch is gutted. “It’s sad to see him go. He was a model employee,” said Damian Chunilal, head of Pacific Rim investment banking.
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