Some asshole lawyer made partner by threatening to take clients and top associates with him to his own firm if not given partnership. (http://www.xoxohth.com/thread.php?thread_id=71152…)
Is it possible to make one's way up to MD like this in banking? It seems like the sort of thing that would succeed beautifully originally, until everyone started doing it, at which point it wouldn't work anymore.
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I don't think many people go up to their bosses and make those kinds of ultimatums. But I know many people leave for rival firms taking their client base with them.
e.g. You can see job postings for structured product sales that require a "transferable institutional client base" or for the applicant to "know where the Equity buyers are and have the relationships to drive the deal". Obviously they pay good money for people with these connections.
p.s.- I wouldn't really call him an asshole. If you're already in this business its pretty much expected that you're going to be a little shrewd/self-serving.
I guess you'd have to be fine with walking away.
maybe in trading.....
you mean senior people in sales, yes
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