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The truth about Asian investment banking

June 2000

Bank e-leaders - Meet the net heads


Banks face a series of considerable challenges when appointing their heads of e-commerce, the most obvious of which is the severe shortage of senior people who can combine any degree of internet-literacy with experience in securities markets and investment banking. Many banks have settled simply for appointing experienced and trusted managers who have proved their capability in leading traditional business divisions. Yet these may not be the ideal choices. The internet is a potentially revolutionary technology which challenges many of the business assumptions these bankers have grown up with. Antony Currie and Philip Eade talk to a sample of e-finance heads at leading American and European banks


By Antony Currie and Philip Eade

Michael Packer, head of Merrill Lynch Direct Markets;
Simon Lack, head of investment banking e-commerce development, Chase Manhattan;

Philip Vasan, head of CSFBNext;
Richard Burrell, Head of global e-commerce at ING Barings;
David Woods, e-commerce co-ordinator for investment banking, ABN Amro;
Paul Galant, head of e-commerce, DLJ

Michael Packer, head of Merrill Lynch Direct Markets Among his peers Michael Packer is unique. He is the only head of e-commerce initiatives at an investment bank who was not only hired from outside the firm to run the unit, but also is not an investment banker through and through. What's more, he actually has experience in the field, in contrast to his peers at many other investment banks who are former business managers drafted into e-commerce with a press release and a formidable stack of reading material. Before Packer joined Merrill Lynch in May last year,...


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