Off the record

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July/August 2020

“We know our competitors will bash us about the head about this. We weren’t the only bank involved. It’s not great news for the franchise, but the thing I can say is that we had a relatively junior role on the transaction” 

One banker on the Luckin Coffee IPO wriggles on the hook in a pitch meeting shortly after the firm admitted it inflated its 2019 sales figures by $300 million

“For banks, taking deposits these days is so obsolete” 

The definitive view from a senior investment banker in Tokyo

“On the spectrum, this deal was not dysfunctional”

Not a ringing endorsement of a trade by one banker

“Covenants were loosening, rates were attractive, almost everything was possible, it was just about how far you could push the envelope. Now no one has access”

2020’s leveraged finance market: a summary 

“When the going gets tough, the troubled call Goldman”

How not to write a slogan

“I don’t know why you need to speak to us, you already know we’re the best” 

The perennial awards pitch makes its 2020 appearance

“We’re not a bank, we’re a tech company in the banking space” 

Aren’t they all these days?

“We weren’t going to submit an entry this year – then we thought maybe no one would, so we should”

An Argentine banker spies opportunity amid the crisis

“I’ve volunteered to be the one to re-open the office, but I suspect the competition from colleagues who also have kids will be strong”

WFH may not be the new normal after all