Off the record


Published on:

April 2019

“The skills you use to get money are not the same as the skills you use to spend money”

The eternal conundrum faced by all corporates that raise money in the capital markets

“It has been a blight on the post-crisis generation to benchmark themselves against pre-crisis remuneration. If you are in your 30s or 40s, this is still a good industry to be in”

Bankers need to get real about remuneration

“Who knows what Trump could say tonight that would make markets collapse or rise? Would you want a computer to make that judgement?”

One banker is sceptical on predictive analytics 

“I fired the CFO and CEO of the company at the first board meeting. So I just turned round to the number two and three on the deal negotiations and said: ‘OK you are CFO and CEO’”

One financier recalls his somewhat brutal approach to executive selection

“I handed out bonuses to hundreds of people in 2007 and told them that they would likely never earn this amount of money again in their entire lives. Only one said thank you”

One banker has particularly bitter memories of pre-crisis banking culture

“One American businessman lost money in Russia one time and now he wants to stop everyone in the world doing business with Russia”

A mild-mannered Viennese banker is roused to uncharacteristic fury by Bill Browder’s call for Austrian prosecutors to investigate the country’s lenders for money-laundering