Like tens of thousands of New Yorkers, Andrew and Mark Madoff are out of work. It probably doesn't help that their names -- and resumes -- are linked to the biggest Ponzi schemer of all time, their dad Bernie.
The brothers have been out of work since federal agents arrested their father, the Wall Street Journalreported.
Mark Madoff, who worked at Bernard L. Madoff Investment Securities LLC for more than 20 years, climbing up the ladder to director of proprietary trading, recently met with at least two Wall Street contacts to get their opinions on whether he could find another job in finance, sources to the Journal.
"He's untouchable in any firm that deals with the public," says someone who talked to the elder Madoff son, 45.
Andrew Madoff, 42, was director of trading when the New York securities firm collapsed. He has considered starting a firm involved in disaster recovery, sources said.
The brothers' annual earnings ran as high as $5 million while working for their dad.
Some other former Madoff employees have also run into difficulties shaking the stigma of their former place of employment. Some have also found that a change of career is in order.
I'll never get a job in finance, and I'm one of the lucky ones," says Eleanor Squillari, Bernard Madoff's assistant for many years. She told WSJ that she went to beauty school this summer and plans to look for work at a hair salon while selling her handmade jewelry.