Morning Coffee: The top 10 bankers in their 20s. Relaxation tips from Goldmanites
Are you feeling a little insecure in your job? Apprehensive about the over-achievers coming up behind you? Yes? You probably don't want to look at the new Forbes list of top bankers under 30. They're fairly impressive.
Forbes has assembled a collection of special 20-somethings working at Goldman Sachs, Morgan Stanley, KKR and UBS, among others. Most are in their late 20s - but one, Chris Drose, who founded a research company that specializes in stocks to short, is just 21.
What does it take to stand out during your first decade in finance? Being aged 29 and known for managing 'billions' or working on "billion dollar deals", seems to help. We're told that 29 year-old Moritz Baier of Goldman Sachs worked on Dell's $67bn takeover of EMC, that 29 year-old Minesh Bhatt at UBS runs $7bn of the $20bn the Swiss bank manages for high net worth individuals in the US, and that 29 year-old Michelle Domanico at KKR oversees "$1bn deals" in KKR's credit group. Early promotion is another factor: 29 year-old Darren Dixon at Goldman Sachs makes the grade as the firm's youngest American managing director. It helps too to manage a big team: 29 year-old Jonathan Birnbaum at Morgan Stanley is managing 100 people at COO of the bank's U.S credit trading group.
What if you want to break out on your own? A well connected father is a good idea. Forbes also lists 29 year-old Jeff Cruttenden, co-founder of Acorns, a company he formed with his father, the former CEO of the investment banking arm of E*Trade.
Separately, senior Goldman Sachs bankers have taken to the company website to offer their tips for chilling after a busy day/week at the desk. Michael Sherwood, co-CEO of Goldman Sachs International in London, says he likes to watch football with his family. David Solomon, co-head of investment banking, says he is compelled to exercise and likes to do yoga with his daughter on a Sunday evening. Dane Holmes, head of investor relations, says he simply winds down while he travels home: "...by resetting during my commute, I can walk through my kitchen door and be fully present and engaged with my family, which is the ultimate reward.”
"A private banker today has to be as clever as an investment banker yesterday. He needs an enormously broad knowledge and the ability to react very swiftly. It isn't enough to just sit and wait for customers." Oswald Gruebel. (FiNews)
Credit Suisse has hired James Peterkin, from Barclays, to head its oil and gas M&A in EMEA. (Reuters)
“We want to be the new face of Wall Street,” booms John Koudounis, CEO of Mizuho Securities USA. (Forbes)
Horror as US consulting firm charges 20x more than Bulgarian branch of Deloitte. (Consultancy)
Barclays is closing its Indian equities business. (Reuters)
“We are not in retreat mode at all,” says Samir Assaf, chief executive of HSBC’s investment bank. (Financial Times)
Chief global equity strategist at Goldman Sachs: “The prospects for economic activity are improving, while those for financial assets are deteriorating.” (Telegraph)
The top and bottom performing hedge funds of 2015. (Twitter)
Marissa Mayer schedules overseas calls with Yahoo employees at 3am. (NYPost)
Photo credit: 21 Success Tips for Young and Aspiring Entrepreneurs by Joe The Goat Farmer is licensed under CC BY 2.0.