A March 14, 2012 New York (NY) Times “Dealbook” article explained:
“A ‘Third Avenue guy’ is someone on Wall Street who is not smart enough to work for a company with offices in a more upscale neighborhood, while a ‘duffel bag’ is a person on Wall Street who is never going to move beyond carrying someone else’s bag.”
Third Avenue is not Wall Street, but it’s still a desirable place to work, with nearby transportation, restaurants, hotels and apartments. It’s not known how popular this term is because this appears to be the only printed citation.
March 14, 2012, 8:09 pm
Name It; Clients Are Called It
By JULIE CRESWELL
The topic of name-calling on Wall Street landed on the front burner Wednesday after an executive director from Goldman Sachs, on his last day at the company, wrote an Op-Ed column in The New York Times in which he said that the investment bank often derided its customers as “Muppets.”
But it is hard to top Wall Street for dark humor. In an e-mail, a former Wall Street stock broker, who is now independent and did not want to be identified, said clients were often described as “pikers” (small fish), “marks” (easy prey) or “pawns” (will do anything asked no matter how ridiculous).
A “Third Avenue guy” is someone on Wall Street who is not smart enough to work for a company with offices in a more upscale neighborhood, while a “duffel bag” is a person on Wall Street who is never going to move beyond carrying someone else’s bag.
New York City • Banking/Finance/Insurance • (0) Comments • Thursday, March 15, 2012 • Permalink