Financial Services Industry
Industry: Email Alert RSS FeedInvestment bankers - seen as the creme de la creme of the industry - are feeling the heat.
Financial News, November, 2002
Byline: Ian Kerr
Attitudes towards corporate finance specialists, later branded as investment bankers, has always varied widely from firm to firm. Because of their MBAs and usually a clutch of other degrees, they believed they were among the elite of the financial services industry.However, when it came to a career choice, the young thrusting investment bankers would have been well advised to do their selection homework carefully. At the old Salomon Brothers, proprietary traders ruled the roost. Investment bankers were very much second class citizens and were treated accordingly. They received miserable bonuses and had almost no say in the running of the firm.
Salomon's legendary senior partner, John Gutfreund, regarded investment bankers with almost...
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