“After a couple of years the big banks recapitalized and it became very difficult for Sirona and for other smaller groups to survive,” Morelli said.
New Skills
He now runs a business focused on a mobile application called HomeKeepr that allows real estate agents to recommend local services. “I am getting paid zero now,” he said.
Michael Chuang, who worked at Lehman Brothers Holdings Inc. for seven years before spending almost two years at UBS, runs a software company called iTBconnect that provides traders with access to electronic-trading platforms.
While growth has been slow for electronic trading in corporate bonds, it’s inevitable that more business will be conducted on these systems in the future, Chuang, 38, said.
“If you are a bond trader now and you refuse to change and refuse to acquire new skills, you will be out of a job,” he said.