Coasting to retirement
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Coasting to retirement

Back in my day, senior bankers knew the ins and outs of every trade that came across their desks. But it’s a whole different world now for those still in the industry.

An old friend of mine, a veteran banker who now has one eye on his retirement, admitted recently that he has a bad habit when it comes to client calls.

You see, if he has to discuss a deal he is unfamiliar with, my friend will bring a junior analyst into the conference room with him. During the call, he keeps the phone on mute long enough for his subordinate to brief him with all the answers to the client's questions.

The chap will then unmute the call and pretend he had all the answers.

That’s no way to run a business, for sure, but it will certainly keep his team on their toes. 

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