Word: bankerly
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Interbank chairman Carlos Rodriguez-Pastor, one of the drivers of the repatriation strategy, has had two homecomings of his own. His father, also named Carlos, was once Peru's central banker but was forced to leave the country following a military coup in October 1968. "He went from being Peru's central banker to an assistant branch manager at an office in San Francisco," says Rodriguez-Pastor, who was educated at the University of California, Berkeley, and at Dartmouth. His father rose through the ranks of Wells Fargo and returned to Peru as Finance Minister...
...signs that the big Citi sale will end anytime soon. The bank still owes the government $45 billion from this past year's financial-rescue effort, and Citi executives said the bank would like to repay the government soon. Last June, in an unusual move, Citi hired investment banker James von Moltke for the sole job of heading the bank's corporate-disposal effort...
Last December at a black-tie industry gala in New York City's famed Plaza Hotel, Ken Lewis strode past other top financial executives to the podium to accept the award for Banker of the Year. The financial industry was crashing, but Lewis looked to be at the top of his game. The CEO told the crowd, "It is incumbent upon all of us, especially those of us whose performance has left us in a strengthened leadership position, to help our industry find a new balance between our desire for economic growth and our need for market stability...
Still, according to many delegates, Palin's home state of Alaska dominated the talk. "She rambled on about the place for ages," says an Indian banker with a major U.S. firm. "Palin even talked about Alaska's land bridges with Asia and how animals once went across." Based on a recording it reviewed, the Wall Street Journal says Palin invoked her husband Todd's Eskimo heritage as a sign of shared "bloodlines" between the continents...
...changing, but few firms have changed more than Morgan Stanley. The latest sign of Morgan's transformation came two weeks ago when the firm announced that James Gorman would replace Mack in January. Unlike Mack, and nearly every other head of Morgan Stanley, Gorman has never been an investment banker. Gorman, a former McKinsey consultant, joined Morgan three years ago from Merrill Lynch, where he had run that firm's brokerage force. At Morgan, he was in charge of revamping the firm's brokerage division, and recently integrating the Smith Barney acquisition. Observers say Gorman's background will likely move...