A hotshot Wall Street bond analyst was fired from his $4million-a-year job for sending out a humorous cover on a business report showing himself as a woman being swept off her feet for a hotel romp.
Andrew Susser, 39, of Banc of America, was rated the past three years as the No. 1 analyst covering casinos and hotels – and the prank may also cost him his annual bonus, which could be an additional $5 million, insiders say.
Bonuses are due in four weeks, said one company source, but won’t be paid for people who are fired.
In Susser’s quirky cover photo, the analyst superimposed his face on the head of a fully clothed woman in heels, being carried by a man across the threshold of a hotel room.
Another senior executive at Banc of America, who cleared the lighthearted project, was also booted from his post.
He’s Joel Krasner, a principal and publisher for all the bank’s publications, who joined the company just 10 months ago at an estimated $500,000 a year.
Their 56-page report, “Checking In,” was sent to clients around the United States, and included information about better times ahead for casino and hotel industries.
Susser’s reports were known for their comic covers, say Wall Streeters.
“His irreverent sense of humor was always welcome,” said Barbara Cappaert, gaming and lodging analyst at research firm KDP Investment Advisors. “He’s a great analyst, and I really looked forward to his report every month.”
Some insiders think big-time clients must have complained about the gender-bending image or the sexual overtones of the gag, because most clients say they were stunned that Susser was booted and felt his bosses overreacted.
Leading compensation lawyer Alan Sklover said he was baffled why the firm would dump an analyst who’d earned the highly coveted title of Institutional Investor’s top-rated analyst of his sector for three years running.
“The value of the magazine’s No. 1 rating cannot be overestimated in Wall Street,” Sklover said.
“If it were a lewd photo, that’s one thing, but letting go of a prized analyst when firms are throwing money at them to stay is really bizarre. Something else must be going on.”
Susser lives with his wife and family on Park Avenue. He didn’t return calls. Krasner couldn’t be located.