Off the record: Celebrating 50 years of Euromoney
In 2005, Euromoney started its Off the Record column, because we had noticed that many bankers could not stop themselves from spouting hyperbole, humour and hubris when the conversation went 'on background'. Here are some of the choicest sound bites from the last 14 years.
“A marriage of German flair and Italian efficiency”
A commentator’s description of UniCredit’s $16 billion takeover of HVB Group in June 2005
“OK, if there were a big credit event, and if it coincided with one of the dealers going down, there would be a problem. How many ‘ifs’ do they want?”
In January 2006, this credit derivatives banker took issue with a Fitch report arguing there was too much risk in the market. It turned out there were more than enough ‘ifs’
“Private equity has the liquidity, hedge funds have the brains – the only thing us banks have left is credibility...”
Not much has changed since an investment banker told us this in February 2006 – apart from the last bit perhaps
“Have you seen the share price this morning?”
“Looks like we’re bust again”
Two Royal Bank of Scotland bankers were overheard in a lift at the Bishopsgate HQ in November 2008
“I was on the trading floor.