Pretending to understand your boss

The new boss calls his team into a meeting room and delivers the speech he has spent his life preparing for. It is a moment of rhetorical genius, a rallying cry, a tour de force. Unfortunately, no one understands a word.

  • By Taipan
  • 11 Jan 2018
Email a colleague
Request a PDF

This is the situation facing one poor chap at a global bank. He is by all accounts a competent and impressive banker except for one fateful flaw — his team struggle to understand what he is saying, largely thanks to a thick Antipodean accent. He could be delivering the Sermon on the Mount or talking about his favourite brand of socks; they would not know the difference.

As a result, the bankers reporting directly to him effectively have two meetings. The first is with the boss, where everyone angles their head, squints their eyes and tries their very best to make out what he’s saying.

The other is without the boss, when they compare notes and try to piece together a coherent account of what he actually said. They are like Egyptologists deciphering a fragmented text, with the rather unfortunate caveat that when they complete their translation all they get to find out is how much work they have to do before they can go home.

The boss, who has no idea why everyone so attentively takes notes at every meeting, is very pleased with the apparent diligence of his subordinates. Or at least they think he is. It’s rather hard to tell.

  • By Taipan
  • 11 Jan 2018

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 China Merchants Securities Co 14.44
2 Industrial and Commercial Bank of China (ICBC) 11.65
3 Bank of China (BOC) 10.33
4 CITIC Securities 8.41
5 Agricultural Bank of China (ABC) 7.17

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 1,472.64 4 9.29%
2 CITIC Securities 1,389.13 8 8.76%
3 China International Capital Corp Ltd 1,340.29 6 8.45%
4 UBS 1,119.14 7 7.06%
5 Morgan Stanley 1,105.27 8 6.97%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 5,431.62 41 10.50%
2 JPMorgan 3,619.90 21 7.00%
3 Citi 3,555.05 26 6.88%
4 UBS 2,356.80 22 4.56%
5 Deutsche Bank 2,285.67 18 4.42%

Asian polls & awards

  • GlobalCapital Asia capital markets awards 2018: Investment banks

    In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out the Best Asian Investment Bank and the Best Investment Bank in the region for 2018.

  • GlobalCapital Asia capital markets awards 2018: Bonds

    In part three of our results announcements, we reveal the winning bond deals across a variety of categories. In addition, we also name the Best G3 Bond House, Best Local Currency Bond House, Best High Yield Bond House and the debut winner of the Best House for SRI Financing.

  • GlobalCapital Asia capital markets awards 2018: Equities

    In part two of our results announcements, we reveal the winning equity deals and banks, including the Best Follow-on/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.

  • GlobalCapital Asia capital markets awards 2018: Loans

    GlobalCapital Asia has spent the last two months talking to banks and their clients in a bid to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2018. We are pleased to begin our awards announcements in the loan market.

  • GlobalRMB awards: Most impressive issuers, best law firm

    In this third part of the GlobalRMB awards, we present our reasons for choosing the best issuers in the FIG, corporate and SSA categories — and praise the strong performance of one well-known foreign law firm.