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Does it help to be a sporting god if you want to succeed in banking?


COMMENTS

It's about neworking. Some of the rugby boys come from certain backgrounds including universities. Some workers are ex-army officers.  Read all comments »

To assuage any lingering doubts that investment banking is a young person’s game best suited to competitive people with very high stamina, Deutsche Bank has appointed an former ironman triathlete and Scottish youth rugby international as its UK chief executive.

Colin Grassie isn’t the only sporting icon in banking. Financial News points out that the industry is also home to several rugby players, including Simon Halliday, former England wing, now head of emerging markets equity sales for Europe, the Middle East and Africa at Nomura.

Banks obviously think there’s something to be said for employing people whose urge to success has manifested itself in great sporting achievements.

Phillip Hodson, a fellow for the British Association for Counselling and Psychotherapy, says it makes sense: “You need to be semi- [super?] human to work in the City. London is in a time zone which straddles the Asian and American markets, so it consumes young people fuelled by coffee and testosterone – you can’t do it for too long and you need incredible stamina.”

However, the head of HR at one European bank says he has no urge to target sporting types: “A lot of our most senior staff are into gardening.”

COMMENTS

John, Trading,  Thu 18 Jun 09

It's about neworking. Some of the rugby boys come from certain backgrounds including universities. Some workers are ex-army officers.

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Doug, Debt / Fixed Income,  Thu 18 Jun 09

“A lot of our most senior staff are into gardening.”

did he mean "gardening leave"?

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Steve, Capital Markets,  Thu 18 Jun 09

fuelled by coffee and testosterone....that's just the cleaners.  I am not sure that combination is going to keep any serious banker going!

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Henry, FX & Money Markets,  Thu 18 Jun 09

Of course sport is important, particularly for M&A. Do you want an office of strong, alpha male, high-stamina, 6ft+ university rugby players, well-connected to corporates and the buy-side, or one with diligent but scrawny, unhealthy wimps? One of the key things I look at when interviewing candidates.

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jack, Investment Banking / M & A,  Thu 18 Jun 09

Henry,

From all the BS you have been posting during the last weeks and months I recalled (beside that you have no story to tell) that you are in your mid 20s..who are you recruiting then...the cleaning lady or starters who are smarter than you (or are you the kind of professional that keeps smarter people at bay)..

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Andrew, Private Equity / Venture Capital,  Thu 18 Jun 09

Is this article now telling us that you don't need to know anything about what you do at work and have below-average education?

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Mark St James, Derivatives,  Thu 18 Jun 09

Good at sports the new Goldman Sachs?

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Douche, Investment Banking / M & A,  Thu 18 Jun 09

Henry, what do you know about M&A? Judging from your comment absolutely nothing!

Stick to converting £ into € for my holiday in St Tropez please!

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alan, Student,  Thu 18 Jun 09

Fuelled by marching powder more likey

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Seer, Investment Banking / M & A,  Thu 18 Jun 09

Another great example of the superficial banking culture, fawning over Z-list sports celebrities. There's more than a whiff of closeted homo-eroticism to the whole rugger-b*gger club. But, as we've now seen, when the chips went down, the club and all its connections fell apart.

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