The writer is a former global head of equity capital markets at Bank of America and is now a managing director at Seda Experts.
It’s that time of year again: investment banks are announcing their latest slate of managing directors.
The ritual is as fraught as it is familiar. I still remember when my boss called me into his office 24 years ago to say I’d been promoted. It felt like a huge career breakthrough, but soon after the list of new MDs was published, a colleague warned me the bank would pay me less that year, knowing the title alone would keep me happy. I thought he was joking but it turned out that he was right.
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