Yesterday afternoon, right about the time I couldn't read another word about PwC's love of CAKE, this tip came through at approximately 7 pm ET:
Tim Ryan just finished up an "emergency" call with all partners and managers about this. Call began at 5:30 EST.
“We believe we are in very good shape today”
“We are dealing in a very different environment”
“Being regulated has negatives, but overall we believe it is positive…"
"They tell us that we are relevant… that people care about what we do.”
Overall, the message — both the one in the Times and on the call — has a tone of patience and resilience, again, precisely what you would expect. The firm is hopeful that this will blow over in the coming days and I'm sure there are lots of questions from the the staff and partners. And leadership is eager to rally them, especially while busy season rolls towards its conclusion.
We'll keep you posted with any additional communication if we receive. If you were on the call and have thoughts, share them below or email us.