INDUSTRY SEASON 3 EPISODE 3 offers the viewers even more of the heated action set in the cut-throat world of investment banking at Pierpoint & Co. , where the consequences of Lumi’s catastrophic IPO do not cease to trouble the characters. With Lumi shares dropping, it is Pierpoint’s career on the line, and as for major tensions, Eric Tao (Ken Leung) and his crew focus on tackling the consequences during the climate change business congress in Switzerland. On the other hand, Harper Stern (played by Mylah Harold) is on the other side of the company after getting fired from her job, and she is not pleased with it at all given the opportunity she lost; thus, Harper will stop at nothing to make her rivals regret this decision, not knowing that she too will experience new powers and new faces as part of this firm.
INDUSTRY SEASON 3 EPISODE 3 RECAP
The episode begins with several of the employees of Pierpoint in a stressful phone call with Sir Henry Muck (Kit Harington), the eccentric founder and CEO of Lumi. However, continued deterioration of the company’s shares and the general market continues to cause apprehension among Pierpoint’s investors, Henry does not take any blame for the issues that Lumi is facing. His rude and condescending behavior is present even now as he goes on denying any wrongdoing and passes responsibility to others.
One of the employees who is involved in the management of Pierpoint is Eric Tao, a pierpoint executive, senior rank; he becomes the leading figure to tackle the Lumi issues. Later in his work, he gets an Extort text message from Wilhelmina Fassbinder, another Senior Manager, regarding an ‘opportunity’. It does not take long before he recognizes that it is a ploy by the company to make him to accept the responsibility for the failure of Lumi.
Other firms aspiring to go public through Pierpoint are feeling the heat after Lumi’s ill-fated IPO. Some feel that their stocks would be overpriced like Lumi’s and therefore would end up failing hence some were thinking of terminating their relationship with Pierpoint. Bill Adler, the FICC global head that oversaw the listing of Lumi’s IPO is now on a leave of absence meaning suspension due to underperformance. This puts the responsibility in Eric’s hands to restore the reputation of Pierpoint and manage the business relations.
Pierpoint has ignorantly directed a significant amount of their funds to ESG concerns in order to try and make it look like they are woke, and environmentally friendly. However, Lumi’s mistake is imminent to disrupt this perfectly designed image that the company has been building. And here Wilhelmina goes on saying that Pierpoint still has an opportunity yet to improve. Their next major event is a climate change conference to be held in Switzerland and, as we have seen, Lumi’s situation has to be disclosed by Eric in his capacity as Pierpoint’s representative at this event. This is a good chance for Pierpoint to reinvent itself and also improve Lumi’s representation in the public.
The confernece is set and Eric is determined to come out of it a success he then drags Yasmin Kara-Hanani
(Marisa Abela) and Robert
(Harry Loty) Spearing along with him. Robert seems to have a grudge with Henry Muck but he has been working with Lumi and would thus be of some help. All of them have to take a commercial flight to Switzerland but they are all seated on Henry Muck’s private jet even if Yasmin is given some preference over the other employees; she is allowed to sit in the same cabin as the owner of the jet, Henry, while the likes of Eric and Robert have to sit elsewhere. This is evident in how Henry prefers Yasmin in decision making, which shows that she has been gaining power in both Pierpoint and Lumi.
On the other hand, Harper Stern who was fired from Pierpoint has also moved and is now working at FutureDawn, which is a comparatively lesser known financial trading company. Realising her desire to return to the corporate finance world, Harper has been given an opportunity through Petra Koenig of FutureDawn act as the portfolio manager. Petra, who no longer believes in FutureDawn’s ESG investments, tries to diversify despite receiving a strong warning from the Internet company’s CEO, Anna Gearing
(Elena Saurel).
In this episode, Anna becomes revengeful with Petra Koenig
(Sarah Goldberg) due to her rebellious nature. When Anna has offered Petra a new contract with a raise in her paycheck she all the same obliges Petra to sign nonstandard conditions which do not allow her to make separate investments or to quit the company at will and risking heavy financial consequences. Petra gets dismissed and is adamant not to sign to the company before finally founding her own investment company and hiring Harper. Petra and Harper currently propose to woo clients from FutureDawn in the next climate change conference.
Thus the climate change conference emerges as a crucial turning point in the development of the united kingdom for all the central characters. Eric, Yasmin and Robert are the representatives from the Pierpoint Company while on the other hand Harper and Petra have also come with the intention of looking for investors for this new business venture. The last public session about Lumi is very important for developing reputation of Pierpoint. Eric, Henry, and Anna Gearing come out on the stage to discuss with Lumi his problems trying to put them in a favorable light.
In the middle of the session, a member of the audience poses the panel a challenging question about the relationship that natural gas prices have on entities such as Lumi. Forcing the question of the conference and pointing at its uselessness for Lumi, the question more represents the event as the funeral for the company’s initiative. Despite these assurances, the panelists attempt to, tension increases.
This episode can be taken as Harper getting back on Eric Tao who was blamed for her sack from Pierpoint. During the Lumi session, Harper comes with Petra and disrupts the entire program, mentioning Pierpoint’s analyst Frank Wade’s (Joel Kim Booster) report where Eric is involved as a culprit. This public confrontation places Eric in a very uncomfortable situation.
However, this causes a setback in Harper’s strategy and despite their poor times, Happer decides to go for the jugular much to the delight of Peter Fergusson a prominent businessman in the conference. It is for this reason Peter, a friend of Otto Mostyn, was shocked by Harper’s audacity, in return decides to fund Petra’s Leviathan project. Supported by Peter, Petra and Harper finally got the powers they need in order to withstand FutureDawn. The final scene that adds to humiliation of Eric is that Harper and Petra come close to Eric and Yasmin, this indicates that they are now rivals.
Yasmin’s intentions also come to light clearly in this episode as well. Although she seems to owe her allegiance to Pierpoint, she is behind the scheme of deceiving Henry Muck. Yasmin persuades Henry against Lumi and tells him to get back as much money as he could, and he informs the board his resignation as the CEO. This decision means the end of Lumi but Yasmin is only concern with her own financial sustainability. At the beginning of this episode o Yasmin discovers that her father’s yacht, which she believed to be an easy solution to all her financial problems, is currently under investigation and therefore it can not be sold. The only way to avoid financial ruin is to continue her partnership with Henry Muck. By the end of this episode, Yasmin becomes a loyal friend of Petra and Harper and even provides them with important information in return for sales. This show that not only Yasmin is surviving but she is thriving and she has skills in both the worlds of finance.
That’s the best way to describe it after watching Episode 3 of Industry Season 3 because the events shifted into a whole new gear, and the stakes for the show’s central characters are higher than ever. I believe that Harper has completely gotten back at Eric, and that Yasmin’s motives have been revealed. Pierpoint is still at risk to suffer from declining reputation, yet, some new affiliations and animosities emerge. The last episode leaves the viewers in anticipation of power plays and individual retribution that are at the core of the series during the rest of the season.
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