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Today, I called several middle market i-banks with significant regional expertise in various domestic markets. This crazy MD returns my phone call and I introduce my group and what it is that I would like him to help us with. I then proceed to ask, which bank he is with and the guy blows his lid. His response was something to the effect of:

"Do you know who I am? Im returning your phone call and your asking who the hell I am? This is absolutely ridiculous...goodbye!"

The maniac then proceeds to call me back 8 times in a row but does not respond when I say hello (which means he is psycho or he was unaware that he had forgotten to hang up the line).

Does this guy not understand that he works on the sell-side and he wants me as a client so that he can generate fees? I guess he has forgotten the hierarchy of finance. Ive been fortunate to have worked with great bankers and have never seen such an egregious ego-maniac lose his temper due to his over-inflated ego. If this MD works at your bank please let me know.

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Comments (9)

  • tropos's picture

    Dude that shit happens to me all the time. I ask them for their name first, then say, "oh could you just wait one second" while I go and look up where they work and then proceed to go into the pitch. YOUR mistake was doing the pitch FIRST and THEN asking who they were.

    It's like this:
    So, the car's great, smooth transmission, low mileage, great paint job, ac/heater, power windows, power seats. Everything that you could ask for in a car plus more. So, what's your name again?

    Of course they never call back repeatedly, but still. His anger is justified. He prolly thinks your some silly geek.

    ********"Babies don't cost money, they MAKE money." - Jerri Blank********

    ********"Babies don't cost money, they MAKE money." - Jerri Blank********

  • VCmonkey's picture

    Haha good one JBS. I can totally sympathize. Except that my calls went the other way. I called a BB research analyst the other day (think GS/MS/Leh) for recent exit multiples of VC-backed semiconductor companies because we wanted to decide whether to sell a company in our portfolio or potentially do another round.

    This BB research analyst is just an associate and a pretty cool guy, as in we hang out sometimes after work. Anyway, so he's not available and his admin forwards my message to the investment banking team. Then this MD from this BB left me like 2 messages in 25 minutes (I was stuck in a boring meeting) telling me:

    "Let me know whatever information you need, I can produce anything for you guys. You guys are a great client and I've worked with Mr. XXX and Ms. XXX in the past so I know you are great people. I have a team of analysts who will be happy to assist you with any data requests your fund generates. Don't feel bad to ask, in fact, I'd like to take you out for lunch the next time you're in the neighborhood...blablabla"

    I was sitting in my office thinking...jeez, if only this guy knew he was talking to some semi-useless VC analyst who is basically responsible for all the due-dili that no one else senior in the fund wants to do...LOL! (Read: financing modelling, returns analysis, mapping out the entire industry based on product offerings...zzz)

    Yeah, sometimes I've founds ibankers over-sell their product. It's not a big secret that all banks are pretty similar, so I don't get why they have to act the way they do.

    Well JBS, all I can say is that I'm happy I'm not on the sell-side..haha,
    VCMonkey

  • junkbondswap's picture

    Atropolation,
    Your analogy is completely wrong. I am the car buyer and he is the salesman. I am putting a potential deal in his lap and fees in his bank's pocket (and he didnt even have to solicit the business). The guy was a complete douchebag even after I apologized for an honest mistake. The (buyside)client is always right and you never yell at a customer. Didnt you learn anything during training?

  • smuguy97's picture

    I could somewhat understand the MD's initial reaction, particularly if he had some idea that you were younger, since some folks think more in terms of age than the fact that you're a potential client (I also work in PE - in general, I tend to communicate more formally with an MD than I would with a VP or Associate).

    However, his follow-up calls just sound fucking insane. Maybe he thought you were a nobody - or worse, maybe he though you were a fundless sponsor.

  • tropos's picture

    Didn't YOU learn anything about customer service? YOU approached HIM with something and then FORGOT HIS NAME! And I agree with smugguy, he's prolly older than you! THAT'S why he was angry with you. It's just common courtesy, NOT whose better than who in whichever hierarchy.

    BUT his multiple phone calls leave something to be desired.

    ********"Babies don't cost money, they MAKE money." - Jerri Blank********

    ********"Babies don't cost money, they MAKE money." - Jerri Blank********

  • net worth or nothing's picture

    Stop overusing the word 'douchebag'... break out the Webster's dog!

  • Seanc's picture

    I love the "do you know who I am" stories. Hilarious.

  • junkbondswap's picture

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  • mark klein MD's picture

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