The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Steven Black, Head of global equities, Salomon Smith Barney

Having spent his entire career at Smith Barney, Steven Black is no stranger to mergers and the blood on the floor they create. He cut his teeth on the 1992 merger of Shearson with Smith Barney, where he headed capital markets. In that position, after the merger, he took the axe to the fixed-income division.

"He's able to make very tough decisions," says Jamie Dimon, who at the time was the Shearson executive credited in the press for the cuts. "We had a pretty good yak [laugh] around here about that," says Dimon, chairman and CEO of Smith Barney before its recent merger with Salomon Brothers.

In the newly merged Salomon Smith Barney, where Dimon is now co-CEO with Salomon's Deryck Maughan, he chose Black for possibly the most difficult task. A member of the operating committee, Black has responsibility for global equities ­ where there's most overlap between the merged institutions. "He's one of the guys you give your toughest areas to," says Dimon, who calls Black "extraordinarily talented".

Black, who was vice-chairman and chief operating officer at Smith Barney, says of mergers: "What you hope happens is that you take the best of both and get rid of what's not so good about each one."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree