atans1

Worse than insurance or used car salesmen

In Investment banking, Wit on 30/01/2011 at 6:21 am

This is how this blogger describes investment bankers.

If you want a piece of the deal, and the mouthwatering fees and bragging rights that come with it, you will suck up as shamelessly as possible to the beautiful lady and tell her anything she wants to hear.

The client holds all the cards in these situations, and the most an investment banker can hope to do is hop a ride on the gravy train and ladle off as much as he can. It is not a scenario which encourages or supports professionalism, integrity, or carefully weighed judgment. It encourages blatant prostitution.

investment bankers are pretty good salespeople, and we will use our sales wiles on our own clients when we think it’s necessary. Accordingly, we will try to overcome any objections (like price, terms, etc.) a client may come up with that may stand in the way of closing a deal. For another, investment bankers are highly motivated to close deals, because in almost every instance that’s the only way we get paid. A client should never hire an investment banker for pure, unbiased advice as to¬†whether it should do a deal, because often the right answer to that question is no, and that’s just not what we’re selling.

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 199 other followers

%d bloggers like this: