“Cultural and Structural Shifts Rise Out of Risk-Taking Titans’ Hard Fall”
In an article in the September 21 edition of The Washington Post, Booz & Company Partner Seamus McMahon (North America) predicted that in the wake of the current credit crisis, investment bankers will need to work more closely with commercial banking colleagues, who they often considered stodgy and risk-averse. “There will be a merger of two ways of doing business,” said McMahon. “The stand-alone investment bank may have been an accident of history. It had its run and it’s over or at least vastly diminished.”