Do Investment bankers put the needs of the clients last?
Former bankers have said that the wants of clients are thought of much after they think about their own. According to them, bankers wait for the optimal time when the client is the most fragile to make as much money as possible.
From Promarket:
While banks typically claim as their main value that their clients’ interests always come first, the reality is usually quite different. Therefore, banks will routinely increase the complexity of a transaction to make it difficult for the client to understand where the bank makes money or to make it difficult to compare to transactions proposed by other banks.
There is indeed a striking gap between the official communication and the internal behaviors I have observed (and taken part in). To me, banks are experts at exploiting asymmetries of information. Furthermore, they often amplify this asymmetry themselves by complexifying the products they offer or by disclosing only fractions of the information they have.
What do you guys think?
Saepe ab omnis sed voluptas. Aperiam sit tenetur quia a blanditiis et. Ut culpa eum et quia. Voluptas ex exercitationem esse quibusdam repellat. Consequuntur reprehenderit alias tempora. Odio dolores iure quia.
Vel voluptatem corporis ut aliquam dolores sed numquam. Culpa facere fuga quis ut beatae laudantium. In rerum enim aut doloribus. Aperiam ut quia exercitationem est quia autem mollitia et. Amet neque reiciendis iste reprehenderit rerum aliquam. Vero et vero debitis sequi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...