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We do not have the same network of relations

In finance, the crisis will be perhaps beneficial to entrepreneurs. It is in any case the bet that is Jean-Manuel Richier, former Bank of investment of Citigroup in Paris alongside Jean-Michel Steg. The two investment bankers have indeed just joined us funds Blackstone to mount an activity of Council in fusion-acquisition and restructuring, based in Paris. A movement which may seem risky in an unstable environment, but the duo is not his first transfer. Together, they had already chosen to leave Goldman Sachs for Citigroup in 2005.

For Jean - Manuel Richier, the choice is not less bold. Forty-four years, this Breton, native of Lorient and son of pharmacists, has been throughout his career in investment banks, almost exclusively American. Young graduate of ESCP, he joined JP Morgan in 1990, the oldest of us homes present in Paris. At the time, young recruits have the opportunity to make a tour of trades for two years before selecting a point of fall: Bank business, financing, debt and stock markets. "This training was the best of the place," he acknowledged even today. He chooses the trades of the debt and became, a few years later, responsible for primary emissions in France and Belgium for the Bank. Business leaders are unfamiliar markets. "At the time, the leaders were not going to see investors, this was within the financial communications officer, he says. There was this belief that the capital was cheap and abundant raw material!

Industrial challenge and managerial

In 1998, its markets specialist card opens the doors of Goldman Sachs. The prestigious Bank of Wall Street, while best known in the mergers and acquisitions in France, wants to develop its market activities. It was there that he met Jean-Michel Steg, twelve years business banker his elder. Three years later, he takes the responsibility for all of the primary markets, debt and shares. Even if the bubble has burst, the activity remains sustained.

But this high mountain enthusiast eager to go to the Council and the "M & A". He then decides to follow Jean-Michel Steg, called to take responsibility for the Affairs of Citigroup Bank in Paris, in 2005. The challenge is both industrial and managerial. "It is to build a team, we have recruited 30 people in two years!", it details. The duo works well. "We are very complementary, both professionally and as a result of our age gap." We do not have the same network of relations. He was a strategic vision, I am more in the implementation. Each has its customers and we are transparent.

When Citigroup begins to accumulate losses, Blackstone, which seeks to develop in the Council, the tandem debauchery. While the pattern of investment banks is seriously shaken, one of the shops and the independent emerges. "There are still great careers in the Investment Bank, tempering.". But the model showed that it was not without faults. And there is a real issue on the footprint that will allow the intervention of the States. "A threat which Blackstone appears, for the moment, be safe.