Leadership, Adaptability, and the Art of Deal-Making

For Dominic Lester, EMEA Head of Investment Banking and Joint Global Head of Technology at Jefferies, success is built on adaptability, cultural awareness, and a deep understanding of people.

With over 32 years of experience and $250 billion in advised transactions, Dominic has built a career grounded in resilience, leadership, and a passion for continuous learning. In this interview, he shares his thoughts on leadership, navigating challenges in the industry, and the importance of company culture.

Whether you’re just starting your career or are on your way to becoming a leader in the field, Dominic’s insights provide a roadmap for growth and success.

From Boutique Beginnings to Industry Leadership

Dominic began his career at a boutique M&A firm before spending 20 years at UBS and eventually joining Jefferies in 2010. His journey reflects a commitment to learning and a love for the fast-paced environment of investment banking.

“Investment banking to me was a perfect blend of intellectual stimulation and activity,” Dominic says. He emphasizes the importance of working for adaptable organizations with strong leadership. “Bad leaders create bad companies, and good leaders create great companies.”

The Keys to Deal Success

For Dominic, successful deals often strike a balance where both sides feel slightly dissatisfied—a hallmark of compromise.

“It’s not a zero-sum game when you’re putting deals together,” he explains. Dominic stresses the importance of understanding people’s emotions and objectives to make them feel good about the process. “At the end of the day, it’s all about understanding people.”

Advice for Aspiring Leaders

Dominic encourages young professionals to focus on experience and relationships.

“In investment banking, you have to have relationships and be able to originate business,” he advises. For VPs in particular, he stresses the importance of gaining hands-on experience with deals and building the confidence to handle client relationships.

The Power of Adaptability

Dominic highlights the importance of being in the right environment to grow.

“No plan is sacred,” he says. “As circumstances change, you’ve got to be able to adapt.” He believes organizations and individuals must stay flexible to thrive in a constantly evolving industry.

This adaptability extends to his leadership philosophy. Dominic views cultural diversity and varied perspectives as strengths that enable teams to work cohesively and solve complex problems.

Persuasion and Communication: A Leader’s Superpowers

Dominic credits much of his success to effective communication and persuasion. He recommends reading Dale Carnegie’s How to Win Friends and Influence People and emphasizes making others feel important.

“Give people an opportunity to speak first,” he advises. “The best answers are usually straightforward, and you can never persuade someone to do something if you don’t believe it yourself.”

AI and the Future of Banking

While AI continues to evolve, Dominic views it as an enabler rather than a threat.

“The more information there is, the more valuable individuals who can interpret that information become,” he says. Dominic believes AI will enhance human capabilities, making skills like discernment and decision-making even more critical.

Final Thoughts: Continuous Growth and Humility

Dominic emphasizes the importance of humility and self-reflection in leadership. “You learn about leadership by observing others and reading about them,” he says. He also encourages professionals to embrace discomfort as a sign of growth.

“When you’re feeling comfortable, then you’re in trouble. You’re growing when you’re uncomfortable.”

Dominic’s advice is simple yet profound: stay adaptable, invest in relationships, and always aim to surprise people to the upside. It’s a formula for success in an industry that rewards resilience and innovation.

Interested it hear more from Dominic?! Check out the full interview below.

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