| Author: | Caplen, B. |
| Title: | Time for a cultural revolution |
| Journal: | Euromoney
1995 : DEC, 12, p. 36-41 |
| Index terms: | MONEY CULTURE INVESTMENT BANKS |
| Language: | eng |
| Abstract: | In the post-bull market, managing investment banks is rather more complicated than just hiring heroes, paying them enormous bonuses and waiting for the profits to roll in. Internal risk controls, long-termism and cooperation must be encouraged. Let's face it: most investment banks are still dreadfully badly managed. They suffer from turf battles, weak risk controls and staff who care more about this year's bonus than about the long-term future of the firm. The answer: to create a strong corporate culture with a built-in bias towards co-operation, long-termism and tight controls. |
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