The News: Making Money the Old Fashioned Way
Wall Street's recovery doesn't lie only in government funds and downsizing, but in the resurgence of old-fashioned relationship banking. When pharmaceutical behemoth Wyeth needed advice on its $86 billion merger with Pfizer, CEO Bernard Poussot turned to his old colleague Francois Maisonrouge of Evercore Partners. Says Maisonrouge: "The relationship banker is the person who is going to fulfill his or her professional mission by putting himself or herself at the disposal of a decision maker. You're not building your career on their back, they're building their industrial purpose on your back."
Still not sure you should get out there and meet people?
A personal touch back to Wall Street [CNNMoney]
Mad about your bonus? Try these tactics to make sure your colleagues know [Bankers Ball]
'The Congressional Inquisition Was Like a Saturday Night Live Skit' [Deal Journal]
Economists see the recovery taking longer than they'd feared [WSJ]
Suzanne Donohoe becomes KKR's first female managing director [Deal Journal]
Robert Lepone leaves Morgan Stanley Distressed Trading [Bloomberg]
Ryan Farrell now an MD at Alvarez & Marsal's Transaction Advisory Group in Boston
Joanne Hill is head of investment strategy at ProFunds
Brian Ruder and Bruce Chizen join Permira in Silicon Valley [Dealbook]
Marc Meyer leaves AllianceBernstein to become GMO's first CEO [Investment News]
Toronto-based Mike Jalonen becomes global head of Merrill Lynch's mining research [Globe & Mail]