There are high jinks as well as the usual frisky fun and games at Deutsche Bank in London, where "Banker of the Year 2000" Josef Ackermann is holding the reins after the sad loss of brilliant team leader Edson Mitchell. Ackermann knows he can make any amount of promotions to plug the gaps in his front line, but his efforts will have no more lasting effect than wet Polyfilla. To replace Mitchell, he will eventually be forced to look outside. But please do not doubt Ackermann's skills or his powers of persuasion. As an example, take the clever and thoroughly likeable Colin Grassie, who was due to leave Deutsche to become head of sales at BNP Paribas. Indeed, Colin had packed his Louis Vuitton bags and the Frenchies at BNP Paribas were ready to welcome him with 21 gun salutes and a gold pass card for every restaurant in Europe with three Michelin stars. BNP Paribas is on something of a roll at the moment, and Philippe Blavier and David Ovenden have clearly decided that they have the brainpower and financial resources to compete with the bulge bracket American houses.
January 19, 2001
