5 Ways to Network and Build Relationships Like Top Industry Leaders

Networking isn’t just a skill; it’s a leadership imperative. Imagine unlocking opportunities, accelerating your career, and securing deals—not by luck, but through a strategic approach to building meaningful connections.

In this weeks newsletter, we distil insights from top investment banking leaders who share how mastering the art of networking transformed their careers. From forging trust to navigating economic downturns, discover the actionable strategies that will elevate your career and deal-making potential.

Why is it so important?

• Deals Originate from Relationships: The stronger your network and relationships the more successful you will be as a deal maker. As Rusty Ray, from Alantra, puts it: "Deals come from relationships...It’s very rare that a deal comes in just because someone calls you and says, ‘Hey, I need an investment banker.’ It happens, but it's rare. It's usually long-term relationships." This sentiment is echoed by other leaders who emphasise that a strong network is a critical source of deal flow.

• Understanding People is Key: Investment banking is ultimately a people business, as Alessio Pieri - d’Angelin points out: "A lot of what we do in investment banking is really about relationships and understanding people" Building genuine relationships allows you to understand clients' needs and motivations better, leading to more successful outcomes. Leaders shared how understanding clients and counterparts, is crucial for successful transaction outcomes but also long-term relationships.

• Career Progression: A strong network can also be crucial for navigating career transitions and even weathering industry downturns. Strong relationships lead to mentorship and sponsorship opportunities which ensure your career progresses to leadership level. Your network helps supercharge your growth and promotion push. Rusty advises how your network supports in economic downturns: "Downturns is where your network becomes extremely important. When something drastic happens, like COVID, it's your network that's going to get you back to where you want to be.”

• Building Trust and Credibility: Networking is not just about collecting contacts. It's about cultivating trust and credibility within the industry. Gokhan Ozkan, from JP Morgan, believes that building relationships early on is important to building a high level of trust as it takes time to cultivate, but when done correctly it can lead to significant advantages later in your career: "If you build relationships and trust early, then in 10-15 years, there will be very interesting results. Your contacts reach senior positions, and now you have a competitive advantage, so this is extremely important" Noha El Ghazaly, from Mediterrania Capital Partners, adds: "Networking is something that's very important. The key is to network with the idea that you want to help others, share your experiences because this is how you build trust, it is not just about the number of people that you know, it's about the quality of the relationships that you have.

How to Network Effectively:

Our leaders offered 5 pieces of practical advice on how to network effectively:

1. Start Early: The earlier you start building your network, the better. Maren Winnick, from Evercore, echoes Gokhan’s sentiments and points out the importance of building relationships at your level early on: "It's easy to get to know all of the senior people at your bank, but those people move on, they grow up too, and then they end up in decision making positions.” Many leaders, reflecting on their careers, express regret for not focusing on this aspect earlier.

2. Be Genuine and Provide Value: Focus on building genuine relationships rather than simply collecting contacts. For relationships and networks to bear fruit you have to be providing value! The best relationships are the ones where you have given value to the other person. Charles Godbout, from PwC, advises: "networking is essential in what we do, but you have to do it with the mindset that you have to give first and ask second.”

3. Go Beyond Superficial Connections: Take the time to get to know people on a deeper level. Karan Goyal, from ENBD, suggests: "When you're building networks, it's very important to go out with people, show up and be involved. Having a wide variety of knowledge as well as extracurricular hobbies allows you to connect with people on different levels". Be curious, ask questions and take a genuine interest in everyone you meet. By listening and learning about the people you are spending time with you can develop deep connections.

4. Be Proactive and Seize Opportunities: Don't wait for networking opportunities to come to you – seek them out. Attend industry events, reach out to people for coffee, and actively participate in conversations. This can be out of your comfort zone but pushing yourself in this area is important. Peter Shin, from Stifel advises: "Look for events and conference in your sector, jump into the deep end and you will figure it out. Everyone has their own style to and approach, but experience is key.” Gokhan and other leaders encourage you to seize all opportunities available to connect with clients and counterparts.

5. Leverage Online Tools: While in-person interactions are essential, online platforms like LinkedIn are valuable for connecting with people and staying in touch. Larry Grafstein, from RBC believes networking opportunities are much better today due to online tools. He uses the example of his former office mate, Joy Covey, who became the CFO of Amazon. He reflects that if he had stayed in better touch with Joy, he likely would have invested in Amazon early on. He advises young bankers to use available tools like LinkedIn to check in and refresh relationships. Sher Hafeez, from JLL highlights that effective networking requires understanding the agenda of both parties. He advises junior bankers to prepare for networking events using tools like LinkedIn and Google to research individuals and their companies beforehand. This preparation allows them to make a good impression and ensures that meetings lead to meaningful relationships being built.

Top industry leaders who have been there and done it, strongly emphasise that effective networking is not just about attending events or having a large LinkedIn network. It is about consistently building genuine, mutually beneficial relationships over time. This requires effort, authenticity, and a focus on providing value to others. By cultivating a strong network, investment bankers can position themselves for greater success, both personally and professionally.