The third season of Industry kicks off not on the frenetic trading floor of the London banking firm Pierpoint & Company, but on a boat out at sea. Over the past two seasons, this financial drama has expanded its reach and ambition, mirroring the growth of its central protagonist.
When we last saw Harper Stern, she was on a downward spiral. Having pushed the boundaries of both ambition and ethics, her mentor, Eric Tao, decided to cut her loose from Pierpoint. Her overreaching ambitions could soon land her in legal trouble, following the revelation that she had falsified her college transcript.
Harper secures a new position as a desk assistant at an eco-friendly fund, where she aims to impress Petra, a potential new mentor. Meanwhile, Pierpoint is aggressively pursuing ESG (Environmental, Social, and Governance) investments, working to launch Lumi, a green-energy startup founded by the charismatic Sir Henry Muck.
In addition to leading Lumi’s initial public offering, Pierpoint has dispatched Robert to serve as the bank’s representative, ensuring smooth operations with Muck. Despite Robert’s efforts, concerns are growing among outside investors about whether Pierpoint has overextended itself. Alder’s insistence on achieving a £4.80 stock price for Lumi underscores the critical nature of this endeavor. When Muck requests a face-to-face meeting with Yasmin, she has no choice but to comply. Similarly, Yasmin must also impress Eric after he spots her with her new lawyer in a restaurant, as she needs to make a strong impression to remain on the desk.
While Yasmin’s storyline may be an early focal point of the season, her colleagues each grapple with their own issues. Eric finds himself adrift due to the chaotic state of his own life. Despite finally receiving a long-awaited promotion, he is in the midst of a divorce, with his only support coming from an unlikely source — Kenny, who took pity on him.
Though it’s never explicitly stated, it seems that Eric’s life unraveled after firing Harper. Industry doesn’t often spell out these connections directly, but the implication lingers like a haunting presence. Pierpoint remains his sole anchor. Restlessness seems to be his only driving force now. Despite his claims that Harper is not a good person, Eric isn’t exactly a paragon of virtue himself — particularly evident in his abrupt and cold handling of Kenny’s dismissal.
The episode concludes with the Lumi IPO, during which Muck nonchalantly reveals that Lumi supplies the exchange’s power. Just as the company goes public, a power outage throws Pierpoint and Lumi into disarray. A perfect chaotic end to a season premiere!
