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TOP STORIESDoes it help to be a sporting god if you want to succeed in banking?18 June 2009By Sarah Butcher COMMENTSIt'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.”
COMMENTSJohn, Trading, Thu 18 Jun 09It's about neworking. Some of the rugby boys come from certain backgrounds including universities. Some workers are ex-army officers. Add your comment »Doug, Debt / Fixed Income, Thu 18 Jun 09“A lot of our most senior staff are into gardening.”
Steve, Capital Markets, Thu 18 Jun 09fuelled by coffee and testosterone....that's just the cleaners. I am not sure that combination is going to keep any serious banker going! Add your comment »Henry, FX & Money Markets, Thu 18 Jun 09Of 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. Add your comment »jack, Investment Banking / M & A, Thu 18 Jun 09Henry,
Andrew, Private Equity / Venture Capital, Thu 18 Jun 09Is this article now telling us that you don't need to know anything about what you do at work and have below-average education? Add your comment »Douche, Investment Banking / M & A, Thu 18 Jun 09Henry, what do you know about M&A? Judging from your comment absolutely nothing!
Seer, Investment Banking / M & A, Thu 18 Jun 09Another 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. Add your comment » |
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