How much personal interaction do London senior MDs have across banks?
Despite being at different banks, is it really true that it is a "small world" where everyone knows everyone else? If someone in the industry made a bad impression / has a bad reputation in the eyes of an EMEA Head or London-based Global Head of a product/coverage group – or becomes personally memorable to one such INDIVIDUAL–senior MD for something extraordinary or unusual – how likely is it for such random info to be spread across similar "C-suite–ish" senior MDs at other banks? Have their long-term work-related interaction across decades of being London bankers made them a closely-acquainted "community" within which certain gossip can be distributed?
It tends to be a small world particularly in product or coverage sub-verticals. It depends how broadly you're talking (e.g. it's not like the head of HC at XYZ knows every other senior HC banker), but we often come across the same bankers time and again on deals, and it helps to know them (e.g. if my counterpart at ABC bank, who is working on a particular sellside, it's common for someone like me to give them a call during the preparation phase of that sellside to understand a bit about the asset and timing so that my bank can be helpful marketing the asset (selfishly, my bank wants a buyside role). The broader your network, the better.
You had a particular focus on extremely bad impressions, but I'm not sure what you're worried about here (yes, if there's a particularly poor management team or a sponsor owner of an asset who are particularly aggressive or rude or something, maybe that information gets shared, but people tend to be professional - it's not a high school gossip forum with a WhatsApp group and 10 Ds / MDs all having a laugh)
Coverage MDs in the same sector all know each other. We see each other at events, site tours, conferences etc. I know some better than others but I know all of them. A few are friends to the point I know their spouses, we've had dinner with spouses, most are friendly acquaintances I'm happy to have a drink with and a few are absolute ¢unts.
Outside of my sector, I know maybe a dozen as well as the sector guys and of course when you move you have those older relationships from your last shop as well. But if you're a member of tennis/sailing/ski/social clubs you're going to meet other people in the industry too.
So yes, the gossip gets around in no time.
Bump
Qui ut odit non id nisi vel rerum rerum. Explicabo explicabo sunt officiis quod dolor. Tempore incidunt quis iure laboriosam distinctio facere. Necessitatibus optio et odio neque.
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...