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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.”
COMMENTSHenry, FX & Money Markets, Thu 18 Jun 09Jack, someone in their mid 20s, who has been at the bank for 5 years, interviews graduate applicants obviously. What are you on about? Add your comment »Henrysmom, Accounting & Finance, Fri 19 Jun 09I think if you look at all the CEOs of the majors, such as Ackermann, Blankfein, Pandit it is safe to say that they are major league rugby players. Big time athletes oh yeah.
Rozzler, Research, Fri 19 Jun 09John Thain was capital of the wrestling team at college and Hank Paulson was a big football player at Dartmouth. Add your comment »ZB, Derivatives, Fri 19 Jun 09People would rather employ physically fit people. Less chance of them getting sick, more chance of them being able to cope with stress Add your comment »jj, Hedge Funds, Fri 19 Jun 09No one really wants to work with a snivelling little weasel. Athletic bankers are the new goldman sachs Add your comment »Henrysmom, Accounting & Finance, Fri 19 Jun 09Yes and Paulson failed as Sec. of state and Thain, well I wont say more apart from "much ado about nothing" after he was hailed as the saviour due to his experience on the exchange.
robroy, Sales & Marketing, Fri 19 Jun 09Hell yes an INTEREST in spot is important. Especially for sales roles. Is it right? Maybe not. But the fact is that, particuarly for men (though not exclusively), sport is something that brings people together. It's common ground that can be discussed on the telephone as a precursor to market chat, or viewed with customers at entertainment events. There's nothing worse (or more opportunistic for rival banks) than a chump sales guy at Twickenham trying to PRETEND to know about rugby, entertaining clients who are clearly avid fans. I've seen it happen a lot.
Jack, Private Equity / Venture Capital, Sat 20 Jun 09Henry,
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