Relationship Banking Over Transaction Focus

“First, at its core banking is not simply about profit, but about personal relationships. And second, the key aspect of any successful merger or acquisition lies in the ability of the new company to provide a beneficial service to its customers. The company has to deliver, or it must try harder until it does.”

“The financial services industry is at a turning point. If it is going to help companies and investors during a decade when doubts continue to undermine the marketplace, if it is going to help businesses to provide jobs and services—then, I believe, it needs to return to the values and practices that were first instilled in me by André Meyer. Investment banking is not a business; it is a personal service where bankers work hand in hand with their clients. And it is a service that must not simply be about making bigger and bigger deals that reap rewards for only a small group of executives. It should aim to create new partnerships that result in stronger, more innovative companies able to provide new jobs and better services. These are the fundamental beliefs that guided me in the past. And they will once again guide me in the future.”