When I started out as an investment banker back in 1991 I learnt a valuable lesson from Chris Webster, the derivatives marketer who sat next to me on the trading floor.
One day I overheard him say to a client:
“I know you want to do this transaction and yes, I know it was my idea, but the market timing just isn’t right for you. You should hold off and look at it again in a couple of months.”
That transaction would have been worth a lot to the bank and, from its perspective, the timing was exactly right for the client to do the deal. Chris’s boss had an acute sense of humour failure and there were plenty of others who thought Chris had lost the plot.
Chris was the most popular investment banker I have ever met. His clients loved him because their interests came first. Always.
There aren’t many people like Chris in the industry, but there are some. You need to find them.
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