A sublime overview, Marc. You make a point though on how the culture in American IBs ensures the right incentives for their employees. Clearly Goldman’s 1MDB scandal must be an exception here?
Thanks Marc for the interesting history of IB. I was wondering for a long time, would the banking system in any country gradually transition to being more inclined towards IB? The presence of Investment Banks, is it become of developed economies?
Take for example India where I understand the banking system very well, and the income/profitability of these banks is mostly depending on direct lending. There is no mention of Investment Banking anywhere and if they intend to transition to it. Any idea why such system is not there in India yet?
Thanks Marc for the interesting history of IB. I was wondering for a long time, would the banking system in any country gradually transition to being more inclined towards IB? The presence of Investment Banks, is it become of developed economies?
Take for example India where I understand the banking system very well, and the income/profitability of these banks is mostly depending on direct lending. There is no mention of Investment Banking anywhere and if they intend to transition to it. Any idea why such system is not there in India yet?
It is interesting to think through how the future decade of IB will adjust with SPACs, Direct Listings, and Software businesses taking over more market share from traditional, capital intensive operations. Any advice on how to think through some of these changes and how it will impact the capital markets, specifically as it pertains to career opportunities? How would you go about getting into IB today if you had to start over?
A sublime overview, Marc. You make a point though on how the culture in American IBs ensures the right incentives for their employees. Clearly Goldman’s 1MDB scandal must be an exception here?
superb history of the Investment Banking,
Great article Mark.
For me the Tinkoff vs Revolut debate raises a few other observations:
1. The impact of plentiful/cheap capital. Listening to the Tinkoff CEO, it’s clear that
Thanks Marc for the interesting history of IB. I was wondering for a long time, would the banking system in any country gradually transition to being more inclined towards IB? The presence of Investment Banks, is it become of developed economies?
Take for example India where I understand the banking system very well, and the income/profitability of these banks is mostly depending on direct lending. There is no mention of Investment Banking anywhere and if they intend to transition to it. Any idea why such system is not there in India yet?
Thanks Marc for the interesting history of IB. I was wondering for a long time, would the banking system in any country gradually transition to being more inclined towards IB? The presence of Investment Banks, is it become of developed economies?
Take for example India where I understand the banking system very well, and the income/profitability of these banks is mostly depending on direct lending. There is no mention of Investment Banking anywhere and if they intend to transition to it. Any idea why such system is not there in India yet?
It is interesting to think through how the future decade of IB will adjust with SPACs, Direct Listings, and Software businesses taking over more market share from traditional, capital intensive operations. Any advice on how to think through some of these changes and how it will impact the capital markets, specifically as it pertains to career opportunities? How would you go about getting into IB today if you had to start over?