GUEST COMMENT: Wall Street bankers are not aliens
Needless to say, many of the banks in the City are US owned. Equally needlessly to say, in the current market the US head office is taking a far keener interest in what happens across the pond than it did when London was generating healthy profits. Falling sterling doesn't help.
In this situation lie the seeds of discontent. Increased interaction with the head office is not always a good thing. Increased interaction with the head office in times of stress is most definitely bad.
The biggest danger is that cultural differences which were previously tolerated are liable to boil over into misunderstandings. While the City has lost many of its distinctive British ways, significant style differences between it and the US remain.
For me, this was underscored last year when a British colleague suggested to the US contingent that we convene in a pub to discuss our six month plan. The soon to be launched RIF (Reduction in Force) quickly gained another body as a result.
Remember too, that Wall Street bankers are plain speaking. They do not get the British sense of humour, which ranges from infantile to ironic. The former is usually considered sexist, racist or both. And irony, well, Americans are generally more earnest than ironic.
Honesty is always best, but be mindful that optimism is a quality prized by Americans. Look to President Obama's electoral campaign for inspirational words of hope in the face of difficult times. Make sure you present solutions to potential problems, rather than be noticed for solely for negativity and criticism.
Bear in mind too that American's aren't big on mavericks. There was a time when individuality was heralded as a key Yankee trait. But it's lost its lustre in an age of rogue traders, six standard deviation events and outsized losses. Remember that most investment banks used to recruit heavily from the armed forces and university sports teams as much as from physics departments. Focus on your strengths as a team player, not just your individual P&L.
And finally, if all else fails, remember that even in these dire times, an overseas trip to London can still be a pleasure for someone from Wall Street. Americans are not averse to going to the pub, but they will expect to do so in the evening - not during a meeting or over lunch.
