The Gift of Hindsight: Lessons from Investment Banking Leaders

Reflecting on their journeys, many successful investment banking leaders highlight what they wish they had known earlier in their careers. From the importance of networking and taking risks to reducing stress and staying curious, their insights reveal a common theme: balancing hard work and dedication with personal well-being and building strong relationships.

In this newsletter, we share the wisdom of seasoned professionals to help guide you in your career.

1. Networking and Relationships

"Expand your network and understand different functions within investment banking." Dominic Lester, EMEA Head of Investment Banking, Jefferies.

Investment banking is a people business, and building genuine, meaningful connections is key. Leaders stress the importance of cultivating relationships with colleagues, clients, and mentors early in your career.

• Be genuine: Authenticity builds trust and deepens connections.

• Build a broad network: Take time to connect across functions and teams, expanding your perspective and opportunities.

• Foster mentorships: Strong mentors offer invaluable guidance and career support.

2. Taking Risks and Embracing Failure

"You have to be on the court, taking risks, and making mistakes." Alex Chenesseau, Managing Director, CMD Global Partners

Success rarely comes without taking calculated risks and learning from failures. Leaders emphasize the value of stepping outside your comfort zone and pressing advantages when they arise.

• Take calculated risks: Be proactive in seeking new opportunities.

• Learn from failure: Never make the same mistake twice; treat setbacks as stepping stones.

• Press advantages: When you have momentum, leverage it to achieve more.

3. Reducing Success and Anxiety

"Relax, take a step back, and don't try to figure out your whole life in the first 18 months." Neno Raic, Managing Partner, NLC.

Starting a career in investment banking can feel overwhelming, but leaders emphasize the importance of managing stress and enjoying the journey.

• Don’t stress over everything: Focus on what you can control.

• Maintain perspective: Setbacks are part of the process—don’t take adversity personally.

• Enjoy the ride: Celebrate milestones and small wins along the way.

"I wish I had been a little less anxious when starting my career." Larry Grafstein, Deputy Chairman, RBC.

4. Learning and Curiosity

"Be a sponge and listen intently." Scott Wieler, Former Chairman, DC Advisory.

Continuous learning is a cornerstone of career growth. Leaders highlight the value of curiosity and asking the right questions.

• Be curious: Dive deep into understanding your work and the industry.

• Ask questions: Don’t shy away from seeking clarity—this is how you grow.

• Stay open to learning: Enthusiasm and adaptability are invaluable traits.

"Focus on things you can control, work hard, and try to learn as much as possible." Neno Raic.

5. Be Authentic

"You have to be genuine." David Lam, Vice Chair, Deloitte.

Authenticity matters. Leaders emphasize that being true to yourself and your values helps build trust, respect, and long-term success.

6. Long-Term Perspective

In a fast-paced industry, keeping sight of the bigger picture is vital. Leaders stress the importance of patience and thinking strategically about your career.

• Focus on the big picture: Don’t get caught up in short-term setbacks.

• Think strategically: Plan your moves and cultivate relationships for the long term.

"Maintain a long-term perspective and don’t let short-term challenges derail you." Dominic Lester.

7. Time Management and Planning

"Start planning early—think about who you should call, where the buyers list is, and how you can take work off your MD’s plate." Justine Mannering, MD, TD Securities.

Leaders highlight the importance of stepping up, taking initiative, and managing your time effectively to make an impact early in your career.

• Be proactive: Anticipate what needs to be done and take ownership.

• Support your team: Lightening your MD’s load is one of the quickest ways to stand out.

Final Thoughts: Advice From Those Who Have Been There!

The common thread in these reflections is clear: success in investment banking isn’t just about hard work—it’s about balancing dedication with personal growth, building strong relationships, and maintaining a long-term perspective.

By applying these lessons today, you can navigate your career with confidence, resilience, and purpose.