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Bankers just have to be the way they are! on Thu 26th July, 2012

“These are driven people; they are driven by results and performance. They are ultra competitive money-makers in a sea of competitive money-makers,” explained Will Davies – who became an investment banker at Societe Generale after graduating in economics from Bristol University.

“If you took a bunch of more socially responsible individuals and put them into an investment bank they would make huge losses and our financial predicament would be even worse," said Mr Davies – who left banking to create London’s leading Property Maintenance and Refurbishment Company, aspect.co.uk. “The problem is the controls that should be in place to prevent unacceptable levels of risk being taken. Don’t bash the bankers who are simply doing their jobs in an effort to generate profit as these are the people who will be relying on to get our investment banking system back to a world leading position”.

Will Davies told Channel 4 News that the big investment banks were understandably keen to attract the brightest economics and maths graduates with starting salaries in the region of £50,000.

He said that moral issues did not really enter his mind whilst he was working in the in mergers and acquisitions department for 12 hours, seven days a week but that the high-pressure environment served to sort out the most able candidates.

“We need talented and experienced staff in our bank boardrooms if we are to drag ourselves out of double-dip recession,” said Mr Davies.

“As the Libor Scandal gathers momentum there are sure to be other top bankers, as well as Bob Diamond, who lose their jobs as a result and ultimately we will drive out a huge talent pool from our banking system that will set us back even further. These people have got to where they have by being the best at what they do and they are crucially important to our hopes of recovery.

“The politicians are just turning the future of British banking into a political football,” said Mr Davies.

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John Price, Hillgrove PR.

Hillgrove PR

T. +44 (0) 20 3603 0366
E. john.price@6hillgrove.com