Industry (2020) s01e08 Episode Script

1
While my baseline was fulfilling
the needs of the desk, I
also stood out on my own.
I've formulated over two dozen
bespoke macro trading strategies
across a number of instruments,
vanilla cash equities
to exotic derivatives,
leveraging at all points our
different silos on the floor
and cross-selling products
at every opportunity.
I can say confidently
that by sales credits,
I'm the standout grad
in front of you today.
And I want to prove that
this track record of producing
at the highest level
isn't a one-time thing.
I have carried the culture of the firm,
led with integrity, and
thought like an owner.
It's in my blood. I'm
a Pierpoint person.
You ready to bite the head off a bear?
Anyone want to start punting
on which grads are staying?
'cause I'm making markets.
A hundred quid minimum
I really appreciate you taking
the time to meet with me.
Um, I know I can add value
and I know I'm ready
for clients, you know,
- properly covering them.
- Yeah.
I mean, there's no guarantees.
You'd still have to be hired
permanently by FX tomorrow,
you know, by Hilary.
- I mean, it's his headcount.
- Sure. Totally, yeah.
But I'm definitely receptive
to the idea of you moving over.
How has your experience of FX been?
- Um
- I mean, they're kind of a law
unto themselves, right?
Have you felt supported?
I
I I think so, yeah.
You know, as as much as one can be.
you believe in.
Liquidity is thin.
Trade fears with China,
slower Chinese growth,
big warnings in tech,
and the usual Brexit sludge.
Another three percent
downside from last night
to move before S&P
circuit breakers kick in.
Look, I said I don't know
any of their names.
Be descriptive.
Hey, c can we help you?
Yeah, can I just get two minutes
with you, if possible?
Uh, sure. Yeah, when I'm done.
No, I just
Um, it it won't take any time at all.
Harper, when we're done.
Okay, fine.
Fuck.
- Mr. Spearing?
- Cheers.
Sixteen pages, 24 minutes
to say, "Do nothing".
I cannot believe that she was away
It's consensual.
He's constantly hedged.
If he's saying, "Sell
market", then say so
And the numbers!
Ugh, burning the fucking numbers
- Oy, Rish.
- Yup?
How do we know if we're safe tomorrow?
Watch your lines. Red means dead.
If they call you before 6:00 p.m.,
you're not coming back on Monday.
And remember, when you're in the room
ignore the camera.
Speak directly to the desk heads.
And don't act the cunt.
It's simple, really.
Gus, I thought it might be a
good idea for us to catch up
before your presentation tomorrow?
Perhaps we could grab lunch later?
We could do it in the
Executive Dining Room.
Sara, I heard whispers
Adler's over from New York.
- Is it bad news?
- Oh, um
news to me.
The last time Adler came over,
half the desk got laid off.
Exec dining room, huh?
Only top brass up there.
Look, your product promised
a world-class shaving experience.
And I I have razor
bumps all over my pubis.
There's nothing in your literature
about using it down there!
Have you, uh had a chance
to think about what we discussed?
Look, what do you think
people use your fucking products for?
Look, I wanna talk to
your fucking manager.
Are we elevating it?
I'm still thinking.
Do you want me to
bring it up in the room?
You obviously don't
want me to say anything.
You always have a choice.
But are you a team player, Yasmin?
Because I like to hire team players.
Do you know how much
of a humiliation this is?
I have fucking three Tinder
dates lined up this week.
Unsubscribe me now,
and I expect to not see
a pro rata direct debit
on my next statement.
So, we've had very
good reports about you.
From who?
I wasn't given a mentor.
Every time I was proactive,
I was shut down.
The desk politics meant that
I was effectively invisible.
And I understand, given where
I sat at the start of the year,
who I sat next to,
I'm a problem for you.
No, th this isn't about Hari.
Well, to be honest,
it's the only thing you ever
want to talk to me about.
A guy died. The bank was responsible.
Your job was to elide
that responsibility.
I can testify to the
culture of this place,
the culture that you
do your best to hide.
I don't come up here enough.
Look at how high up the two of us are.
Okay. What if I said I
didn't see your talent?
What if I saw you as
a walking PR disaster?
Shall I be more cynical
or, um, "honest", as you say,
because cynicism's just honesty in code,
and say that you are a
hyper intelligent minority
at Pierpoint.
Looking at the institutions you've
been at for most of your life,
you probably take that kind
of social mobility for granted.
You shouldn't.
I'm not gonna hide that
the optics are good for me,
but if you stay,
there is no limit to where
I can take you at this bank.
I don't actually like truffle.
- You don't?
- Not really.
Uh, what are you up to tonight?
Heading back. Getting
a pint's been mentioned,
but I've got an early meeting.
How about tomorrow?
All right, one pint.
Okay, maybe two pints.
And a bag of chop. Twisted my arm.
You ready to go?
Got a lot of work to do.
I'll see you at home.
Fuck off. We both know
I'm the only one that's
allowed to light it.
Thank you for today.
Yeah. It's exciting.
Oh, I hate myself for saying it, but
it's quite hot.
After tomorrow, you
might never see me again.
What would you do?
I'd die.
No, but like, really
what would you do?
Depends who sits in your seat.
You've been fun, Robert.
Why was Yasmin thanking you?
We'll have a chance to chat tomorrow
when the dust has settled.
As someone who knows the process,
can you at least tell me how
much weight my speech has
versus the MDs' opinion of me?
It's a consideration
of all those things,
plus your performance
throughout the year.
Tomorrow, can you vouch for me?
As a friend?
I must be one of the
only ones in my class
that printed business this year.
Everyone else is just
glorified desk assistants.
Then talk about that business.
You know that I deserve to be here.
Harper
Doors closing.
Please just try and
get some sleep tonight.
But I wouldn't be your
friend and your boss,
if I didn't tell you
that I'm not convinced
this environment mixes
well with whatever it is
you're going through.
Doors opening.
Doors closing.
So what? Are you
Are you saying that
I'm not cut out for this?
Is that your professional opinion?
No, um
it just might not be
a cultural fit, okay?
Well as my friend and my boss,
you put me in front of a client
who sexually assaulted me,
so how do you feel about that?
- Excuse me?
- Nicole took advantage of me.
That is a very serious
allegation, Harper.
Yes, I'm making it seriously.
No, you're not. You're
not thinking straight.
'Cause if it was serious,
you wouldn't tell me like this.
Here you go.
Cheers.
I can't accept this.
Nonsense.
Gorgeous Georgie just
finished it this week.
- It's not appropriate.
- It's finished,
and it's paid for.
So
have you ever thought
about getting help?
Yeah, I've been at those meetings.
There's this one guy
I remember. Smart lad.
Kept telling me to
"replace the alibis of exceptionality
that masqueraded as self-knowledge".
With what?
The polyester clichés of recovery?
Fuck that.
You're a fraud.
Laughter and lunches
and tickets and fun.
That's the whole enterprise.
Because if there's no joy in it for you,
you might as well be dead.
I didn't
don't want to be small in my life, Rob.
I was large.
Yeah, you should've seen me.
- Do you not wanna stop?
- No.
You've really fucking left me
in the lurch, you know that?
I don't know what I'm
gonna do if they fire me.
I mean
what have I got to go to, eh?
I knew Kaspar intimately.
He didn't know the first thing about me.
But he needed me.
Twenty-year relationship.
I was who he wanted me to be.
Just tell them what they need
to hear to survive the day.
Make yourself big in your life, Rob.
They'll fall in love with you.
Thank you.
I need to go.
Good luck.
While my baseline was fulfilling
the needs of the desk,
I also stood out on my own.
I've formulated over two dozen
bespoke macro trading strategies
across a number of instruments,
vanilla cash equities
to exotic derivatives,
leveraging at all points
our different silos on the floor
and cross-selling products
at every opportunity.
I can say confidently
that by sales credits,
I'm the standout grad
in front of you today.
Right. We've got a little kitty going.
RIF Day Bingo.
Most common bullshit said by grads.
"Team player", "touch base",
"add value", et cetera.
Shite, basically.
And any graduate that's
brave enough to say
a sentence the traders
come up with, gets a Gib.
- That's a grand.
- What's the sentence?
Haven't come up with that yet,
but we'll email it around subtly.
Kinda subtly.
Not subtly at all, actually.
Shit.
Uh, good to see you, sir.
How you doing? Yeah. Great
to see you again, man.
- How's Trust Fund Terry doing?
- Staying strong.
Hey, there. Hey, there.
I don't wanna sound Johnny Paranoid,
but that Adler gives me the fear.
I heard he was having dinner
with Boris last night, 5H.
Rishi, Pierpoint.
Yeah. Yeah, I'm just
Restructuring, I reckon.
Nah, he wouldn't come
over for anything less.
Yeah, I've got major post-pint anxiety.
Do you want one?
For today. It's like, um, beta blockers.
They stop adrenaline and stuff.
I'm fine.
How about a fag?
What are you gonna do without me, then?
I could throw myself in the Thames.
You know, I think I'd miss you.
I'm not very good at
letting people in, you know?
Yeah, I've noticed.
I don't think I'm
Daria's kind of person.
What are you basing that on?
Let's have a drink tonight. After work.
You know, like a proper drink.
You're seriously doing this right now?
Yeah. Why not?
Come to mine, we can just hang out.
Fuck.
I'm on.
Fuck. Okay. Um
Oy, remember
you're better than me.
What the fuck?
Can some fucking anorak
crank the volume, please?
Uh, Vireo Partners and their
new senior PM, Usman Abboud,
aim to achieve long-term capital growth
through active management
by bottom-up stock picking.
What's the most important
thing you've learned
about client relationships?
I guess that, um
there's still romance
left in this business
Anyone have "romance"?
if you know where
to look for it, you know?
Um
No, not sure we do.
What I mean is that, uh
is that one big night with a client
is worth a thousand research reports.
Well, that sounds like a euphemism.
Don't mind me.
It's, uh It's always an experience
covering clients on the continent.
Well, it's, uh, more a
question of experiences.
He's seconds away from "touch base".
Do you feel you have
anything to offer clients
apart from Pierpoint's expense account?
What is your value add, Robert?
What do you actually do?
Whether we like it or not
this is still very much
a belly-to-belly business.
This whole job, in theory,
could be completely automated.
Completely electronic.
But I still think that if
you want to make money
off a client for a client,
then it's about listening to a voice.
Totally agree.
So you've secured Vireo as a client?
And can I press you on a
"yes" or "no" answer, please?
- No.
- No.
They've secured me.
Oh, shit. Um
Uh, sorry, um
Sorry, I I get these
whenever I'm really nervous.
Guilty.
- Hey.
- Oh, thank you.
Thanks.
- You can go.
- Right. Sure.
Sorry.
Never known Adler to
fly in for graduate hiring.
Hey, Yasmin,
that's the global head of FICC.
- Fixed Income, Currencies
- I know who he is.
No pressure.
Do you believe that
shite that clean eating
makes your street-rat taste nicer?
- Jesus Christ.
- 'Cause I'm off for some sushi.
You guys want anything?
Um, a few of the grads have
gotten their line managers
to speak to their MDs,
sort of vouch for them.
Um, did you speak to Wyndy about me?
What, on your behalf?
Are you not tired of
tiptoeing around each other?
I'm just I'm second
guessing everything
that comes out of my mouth, you know?
And if I'm honest,
I'm sick of going home
and thinking more about
my relationship with you.
It's just not a cultural fit.
Well, maybe I'll talk
about my perspective
on the cultural fit.
You're gonna stand up in
front of the entire bank
and say what?
That I did
what, exactly?
Go on.
Find your words.
Yeah, well, maybe I'll talk to HR.
Right, and how does that play out?
You drag me through a few things,
you get paid, I get a slap on the wrist,
you have a mark next to your name
and have people talk about you
for the rest of your career?
"There's that girl. Do
you know what she did?"
Oh, come on! You know
I'm only fucking about!
You know that that's our relationship.
So what if it's a bit combative?
That's our style. We're a team.
I really appreciate everything
you've done for me.
Oh, they're calling you already.
Early bird special.
Pierpoint, Yasmin speaking.
We have someone downstairs for you.
We've spent so little time together
recently because of your job.
And I I needed a wake-up call.
I I feel so fucking
lucky to be with you.
Okay, well I don't anymore.
Look, I'm I'm sorry
I don't want it to be rough
when we have sex.
Fucking hell.
Like, why does that
make me a bad person?
Because oh God.
You never made me feel
like a sexual person.
Seb, I'm a sexual person.
You nearly killed that in me.
Oh my God. You need to leave.
I'm actually pretty busy today.
You know, liking that kind of thing
it's not very feminist.
I don't give a fuck
what's feminist, Seb.
Please leave.
You know, my friends have always
wondered why I was with you.
A spoiled little rich girl.
I guess now you're home.
Be kind to yourself, Seb.
My mum, uh, used to get really worried
about how many of these I got as a kid.
What, were you a
cokehead back then, too?
I need you to know that
none of that worked on me.
I see you.
I know what you are.
I don't wanna be a babysitter.
I don't want to be a carer.
I don't want to be a mother,
especially to you.
You don't have a future on my desk
because you've never displayed
that you have any value.
Doors opening.
To me
you're worthless.
Doors closing.
Given the chance
to further my career at Pierpoint,
um, I am certain I will find
new and vary way varied ways
to, um, add value to
its outstanding culture.
- Bingo.
- Oh, fuck.
And how would you define our culture?
Um
It's a culture of every man
every man and woman, um,
lifting each other up.
And have you felt supported throughout?
Ye Absolutely, um
Yeah, I really feel part of a team.
Thank you, Yasmin.
Thank you.
Alice moved out.
Was it mutual?
I mean, she always kind of knew.
I'm sure we could have
kept the whole thing going,
but out in the open, it just
it made the whole thing untenable.
For both of us.
Look. I'm
I'm really sorry.
Can we somehow make this right?
Come to Polton this weekend.
It's my parents' place.
We can, you know, we can do whatever.
We can chill.
- Are you sure?
- Yes.
Yes, of course, I'm sure.
Oh, shit. My parents
are there this weekend.
Um, I thought they
were back in Hong Kong.
Okay, a major calendar fuck-up.
Um Look, any other weekend, okay?
I promise.
Sure. A weekend soon.
Send me a calendar invite.
Where did you stay last night?
At home. I got up early.
Did you watch my speech?
Were you with Robert?
What? I was at home.
I've just been getting up early.
- What is your game?
- What game?
Like
your game. What are you
doing talking to Daria?
I'm not playing a fucking game, Harper.
I was talking to Daria about
switching desks.
You know I've had a shitty time here.
I thought you might be
receptive to the idea
of us working together,
you know, as friends.
Harper, are you seriously okay?
Any success I might have
doesn't have to come at a cost to you.
We'll all be fine.
Just tell them what they want to hear.
You know, you're, like, the best thing
to come out of this experience for me.
Thanks.
Let me just say, first and foremost,
without equivocation,
after everything we've all
been through together
allow me this indulgence.
"Buy the dip. Short the VIX.
Fuck Bitcoin".
Yes! Yes!
Buy the dip. Short
the VIX. Fuck Bitcoin!
Thank you for the opportunity.
"Fuck Bitcoin" is
actually the house view.
- Well, that was a waste of time.
- Good luck.
Sorry, everyone. We'll
get to the bottom of that.
Interesting grad class, Sara.
Harper Stern?
I have formulate
I have formulated 22
different b bespoke
Why don't you tell
us about the relationship
you're most proud of?
Whatever's the most revealing.
Take your time.
Harper, are you okay?
Har
Hey. Are you okay?
I can't breathe.
Hey, hey. Breathe with me.
In through your nose,
out through your mouth.
Well, that was, uh,
totally unacceptable.
I'm sure this doesn't
even warrant a discussion.
There are considerations
about what he's been through.
That's yesterday's news cycle.
With all due respect,
you are speaking quite flippantly
for someone who hasn't
been on the ground.
And with all due respect,
Sara, nobody in New York
is talking about that.
He sat next to someone
who died on our watch.
And he's one of our brightest.
Look, I know this sounds cold,
but in the interest of time,
we've moved on. Rightly
or wrongly, that's the reality.
So let's take care of it, please.
Sorry, team. My five o'clock is here.
Well, that doesn't sound ominous at all.
I don't think this is the kind of person
we should be championing.
I mean, we've let people
sleepwalk into these jobs
too often and too easily.
Yeah. Nothing between his ears.
Adler likes him.
I don't want to come
across as patronizing,
you know I never mean to,
but there are certain people,
clients, who would instantly
get on with that kind of guy.
Okay, but I I'd be happy
to excuse that kind of attitude
if he was smart
- but the truth is
- What is remarkable about him?
Adler liked him.
She seems like a bit of a
shrinking violet in the room.
But what do we think
about her intelligence?
Well, she wasn't great
on the technicals.
Hilary?
I think she's very smart.
She was instrumental in
introducing us to a new fund.
It fell apart.
- Yes! Tommy
- Nothing to do with her.
It was their needs.
She's, um
she's a team player.
I'll take this.
I've worried at certain points
about her ability to
handle the pressure.
But if we were to define
a Pierpoint person
as a producer, hardworking,
someone who truly puts
the job ahead of herself
then she's the easiest
hire we'll ever make.
Was that kind of erratic performance
typical of her?
So, I would say the
embedding of bold products
going forward and, uh, you
know, we need to do that
It's a very common strategy.
Yes, Gus, lad. You
leave a size load, mate.
Huge hardo energy!
Treat yourself to a Pier-pint!
Well done, mate.
Thank you.
It sounds like you've had
an extraordinary year.
Good stuff always filters up.
Your desk's a breeding ground
for world-class people.
Oh, I'm, uh I'm
sorry this is so low-fi.
So, these, uh, five accounts are Eric's.
They represent 28 million
dollars in sales credits.
That's, uh, what, 60
percent of the desk's pie?
They only trade with Eric.
Eric could walk into Goldman's.
They become Goldman's.
I need them to be Pierpoint's.
Now, uh, given the NDA, it
would be very easy to make
what happened, or
didn't happen, go away.
We're in a good position.
Eric assures me that there
were some, uh exaggerations,
a misunderstanding
between the two of you.
Some things were said
that were, shall we say
Not true.
We're giving you a chance
to retract your accusation.
So if we can clarify, or
or better yet, smooth over
the inconsistencies, I'm
sure we can find a way
to make this beneficial to your future.
I'm, um
I'm quite influential here.
How are Fenmarsh on here?
I I apologized to Felim
for what I said in front of his wife.
Look, uh, ultimately, this
is, uh, an isolated issue
between two people. We work things out,
peer to peer, the
institution doesn't suffer.
Work it out. You're both
salespeople, for God's sake.
It's not often in life that
when you lose something,
you get a chance to bring it back.
Hi, Bill. I'm going to
have to borrow Harper.
Well, we're in the middle of something.
Gonna have to insist.
Sara, this is a private meeting.
If I know anything,
it's that I have worked
so that men can no longer
make unilateral decisions
in airless rooms.
Oy-oy!
You weren't there!
You weren't even there!
You know, Lehman was
a dry goods store once.
- Really?
- Yeah.
Management still used to
call it "the family business",
which was bullshit.
On my desk, we used to
call Dick Fuld, the CEO,
"the invisible man". He
was never on the floor.
An invisible man
pushing people to sell invisible things.
You know, over a thousand banks
have failed in the last ten years.
About a dozen were created.
We have answered "too big to fail"
by making bigger banks.
- Nothing's changed?
- Nothing. But it can.
Some people are trying to change it.
Daria's one of them.
But the only agency we
have in a stagnant system
is the single choices that we make,
and the cumulative effect
of making the correct ones
more often than not.
I'm not just offering you the job.
Forget my targets.
This is more important than that.
I am giving you an opportunity
to change the culture.
I will believe anything you tell me now.
Okay? It's up to you.
But remember, the choice
is between the invisible man
and the visible woman.
Between people like Eric,
or people like Daria.
Can I ask you something?
Yeah.
What do you really know about me?
Like, really know about me?
Other than when you look at
me, you clearly see a victim.
After you, of course.
Doors closing.
Put your phone away.
Thanks for bringing me home.
Did Felim really forgive you?
Mm-hmm.
Why?
Because I was very contrite.
What did you actually say?
To his wife, or in front
of his wife. Whatever.
I have
I have no fucking idea.
I I have no fucking idea.
Doors opening.
I'm sorry, everyone wants
you on the tape right now.
Hey. Wh what happened?
Harper, are you okay?
You know that we gave
you a job in the room.
Look
I'm so sorry.
Okay? About before, about not taking
what you said seriously.
About Nicole.
Sometimes this place
makes you forget yourself.
You know?
But we're gonna do something about it.
Together.
I'm really sorry.
Daria speaking.
Uh, okay. Why?
Yeah. Sure.
Okay, I'll be right back.
And then we are getting
a drink, or six, to celebrate.
We made it.
What's going on?
I sat down with Adler.
- Why?
- And Eric.
Eric? Sorry. What's going on?
Daria's gone and Eric's coming back.
What did you do?
I told them that Daria
had her own agenda
and pressured me into saying
something that wasn't true.
But it was true.
No, don't turn away from me.
You're unbelievable.
So it's not about your survival,
it's just about you.
It's always just been about you.
Like really, you are
fucking unbelievable.
I did what anybody would have done.
No, no.
- I wouldn't have.
- Yeah, well, Yasmin,
you would never be in
that position, would you?
Don't turn away from me.
You have no idea what it's like for me.
You think that I'm selfish,
but you have no idea what
it's like to try to live
- for two fucking people.
- Oh, wow.
Okay, I didn't think
you'd actually go there.
Don't judge me when you
hold your fucking tongue
- whenever it suits you.
- What does that mean?
It means that you're weak!
And a fucking hypocrite.
Doesn't look like we'll be
working together, does it?
You know, you play broken really well.
But, to be honest, you're just
a bit of a cunt, aren't you?
It's all good, man. All good.
All right, bye.
Bye.
Congratulations.
Fuck off, Kenny.
Hi, this is Robert's phone,
leave a message.
He's still out.
- Okay, cool.
- Oh, you left this here.