Sunday, August 31, 2008

Name That Deal

So we're now four weeks into our six week training program, so far so good. Of course, that doesn't stop most of our managers from having us do plenty of work. Take today for instance, a nice beautiful Sunday in London, here I am reading a few hundred pages about infrastructure, a dream come true really. Anyway, that's neither here nor there, the point of this post is to tell you about one of the great wonders of banking, deal naming.

Seeing as most of what we deal with on an everyday basis is price sensitive and that we do a lot of reading on the Blackberry, etc. it's quite important that anyone looking over my shoulder can't see the email talking about Exxon Mobil's plan to buy British Petroleum (For those less knowledgeable in finance, I promise you that is NOT a real deal). So what do we do...we code name things, just like MI-6 and the CIA.

Now you might think wow, who cares, but this is serious. When things are busy in the Spring, there's little time for creativity. You get names like Project Fruit, where Apple has three parts, skin, seeds, and core but they want to divest seeds to banana who is interested in diversifying their own position. I know that may have made little sense, but the bottom line is, it's project fruit, that's boring.

Now when things slow down in August, it's time for the creative ones among us to recreate Michelangelo's work on the Sistine Chapel. For instance, there could be Project Blackhawk or even Project White Shadows. I know you like that last one, I am pretty sure it was in fact stolen from the Coldplay song. So far the analysts are allowed to play a quite serious role in these epic decisions. After all, we're the ones working on finding a value "seeds" all night on a Saturday. So next time you ask an analyst what he's working on and he replies that he is selling seeds to banana, I promise you he's not hallucinating.

1 comment:

Katie B. said...

Petey Pablo-- this is fascinating!!

I blogged about YOU.