Off the record

COPYING AND DISTRIBUTING ARE PROHIBITED WITHOUT PERMISSION OF THE PUBLISHER: SContreras@Euromoney.com

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January 2019

“It’s got so bad I’ve started to listen to Magic FM rather than Radio Four in the mornings”

A leading City financier can’t stomach hearing about Brexit over his breakfast


“The real issue about Goldman and 1MDB is not corporate-wide criminality, but executive greed. You can’t make 10% fees from the same client on three bond deals in a row”

A former Goldman partner points to cultural issues in the bank’s toxic relationship with the Malaysian wealth fund


“For our clients, it’s not really an advantage, no. But for us, it definitely is. But don’t quote me on that”

Brazilian banker straining to make his mandated IPO the first transaction since the presidential elections admits his and his client’s interests in re-opening the market are not perfectly aligned


“Access is beginning to look like one of those diabolic uncles in Nigerian movies: the ones that wait for you to sell your only inheritance” 

A Nigerian observer pokes fun at Access Bank’s habit of growing by acquiring struggling banks, following news of its intended merger with Diamond Bank


“You can’t ban cheques – how will old people pay you?” 

According to one banker, some traditions can’t be broken


“That there’s only one bank on Wall Street that has a chance of appointing a female CEO in the next decade says all you have to know about how Western society views money as the domain of men”

A female financial adviser