Sales guys - what would you make of this?
Earlier in the year, i was speaking to a client on the bloomie group chat based in another region about some quick market questions - where do u see rates bla bla. This client has never done much business with the firm or speaks much, and my teammates who cover him in that region do not have a close relationship. I can count on my hand the number of times he has said something in our chat group this year. Helped him with some of his KYC stuff, I’ve spoke with him a bit here and there. Essentially, a nothing account. Suddenly, he mentioned making an intro to a friend of his that is looking to trade and get prices. Not thinking much of it, i agreed since I am the only one manning the chats at that time in my timezone.
I get along well with this client he intro-ed and convince him to like me and subsequently onboard and trade with us. Give him colour and all that jazz. Even though we aren't in the same region we intersect a lot, and this intro-ed client splits his trades quite evenly between my timezone and his region's timezone. We speak quite often.
Recently, this intro-ed guy's volume has skyrocketed and as such his PNL to the desk has exploded to the point where he is now a top account for the firm. I'm getting kudos as the guy he brought him in. It occurs to me though, that I was in the right place at the right time to get this intro. Although I had to work the intro-ed guy to get him to trade, technically I dont cover the guy who introed him and I guess in another universe if he had been speaking in his usual timezone one of my teammates in that region would've gotten the intro, although if the intro-ed guy would've become a big account is another thing. I’m also a bit worried because my boss previously asked me where I got this account from and I forgot at the time, and said that I was referred by a mate.
My question is - did i do something wrong here or is this a super common scenario? Do I just clear the air with my boss and tell him that it was referred by the said client from another region?
Bump
I have this happen here and there with my clients and producers referring me outside of the regions I cover. For the future just let the guys who cover it know as it’s happening. Be very clear what’s going on and if they’re good guys they’ll be happy to have a new account rather than no account. You’ll have to work out the shared comp or pass off for the future. Even if you net zero the brass should take note of your ability to take charge and bring it home.
In my case the referral is based on me being known and wanting me specifically to be the initial poc. whether I offer to include the other teams in the process is based on the context but I do make sure to let them know I’m working on business in their region and always spin it as a “you’re welcome pal”. You do that enough and they should be happy to have that instead of being territorial and leaving you both empty handed. Communication and documentation is key!
Got it - thank you. What would you recommend that I do now? Do I just tell my boss that actually it came from a referral from a client in another region that I happened to be around for?
If the boss is asking you for details, yes. Idk all the details but I would offer to introduce this account to their actual coverage team and explain to the team outside of your boss whats going on. Unless your boss is directly involved with you then of course include him. Also wouldn’t hurt to ask the boss what the protocol for this is in the future. You just got this account so any potential wrongs could be fixed before they’re locked in.
You got an inbound and closed, time to sell the story of why it’s ok and make everyone happy.
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