Posts tagged: relocation

Banking brats, is there such a thing?

There are Military Brats. Children moving from base to base as their parents military careers develop.

I believe there’s an unsung generation of children that we can call Banking Brats. These kids move around due to the consolidation of the banking industry. I think it maybe a recent phenomena, with in the last 30 years.

It started with the deregulation of banks in the early ’80s. Banks rushed into areas of business they did not understand. Quickly, the banks ran into trouble with their new products and began to fail. By 1982 banks were failing and being absorbed into other banks. Bankers lost their jobs or the position was relocated. I imagine many families moved to continue their role within the company or to find new opportunities.

Recessions are a main reason for consolidation of the banking landscape but not the only reason. It’s the nature of big banks to buy little ones. Displace employees by shutting down redundant locations and merging operations.

Transition like this has it’s up and downs. The positive, the children see new places, experience more people and become accustomed to change. Change is a life lesson hard learned by every child. However, transition can cause issues with developing interpersonal relationships. These two aspects are things I think any military brat could identify with.

Does this group deserve their own name?

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