Word: bankers
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...central banker and I choose to invest my reserves more aggressively and I am successful...[most people] will never know what I did,” he said. But if those investments fail due to a weak market, central bankers face “substantial career risk...
...prodigious fund raising on behalf of colleagues and her gracious manners; she's often the first person to send flowers if a member's spouse is sick. Staffers also enjoy her largesse. After a lavish meal, she will sometimes say, "Thank God for Paul Pelosi," her investment-banker husband, whose real estate holdings make up much of the couple's $16 million in assets...
Frank Quattrone was always good at making deals. As a sizzling Silicon Valley investment banker during the tech boom of the 1990s, he orchestrated the initial public offerings (IPOs) of start-ups from Netscape to Amazon.com collecting as much as $120 million a year for himself in the process. Yet the deal he reached last week may well be the one he cherishes most. After 31/2 years of court dates, two criminal trials and the prospect of jail time, Quattrone struck a deal in which federal prosecutors agreed to all but drop charges that he obstructed justice during...
...conference room in Singapore's Conrad hotel in early august, a gathering of Credit Suisse Group employees is in the throes of an intense role-playing exercise. As part of their training to become private bankers, the recruits take turns acting out the roles of bank "relationship managers" and their wealthy clients. Taped to the wall of the room are posters offering helpful tips on such challenges as "Resolving Skepticism" and "Resolving a Misunderstanding." Under the stern eye of Penny Radcliffe, head of Credit Suisse's in-house training program, their performances are carefully scrutinized and criticized. One stylish...
...retail banks must focus on volume by hawking me-too products to millions of less-wealthy customers, private banks can rack up bountiful revenues by offering a wide range of lucrative services to a smaller number of rich and superrich clients. It's not uncommon for a top private banker to thrive with as few as a dozen clients, who are happy to pay richly for personal guidance on such esoteric matters as, say, reducing taxes, setting up a low-risk-high-return hedge-fund portfolio, investing in emerging-markets property or establishing a charitable foundation. "The profitability comes...