It is hard to imagine any investment bank executive coming to the sudden realization that what their business really needs is more chairmen. But over recent years it has become fashionable to approach senior client relationships in a more organized way than the traditional and haphazard sideways shift of experienced bankers into chairman roles when they have outlived their usefulness as business line managers.
Barclays is the latest to try this out. In June it unveiled a new initiative for some of its senior investment banking folk, with the creation of a global chairman’s group that sees eight of the bank’s top relationship bankers work together to drive client business.
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