Credit Suisse CEO Brady Dougan has had a dynamic career on Wall Street, and in a recent interview with OneWire‘s Skiddy von Stade, he gave some advice on how young people can do the same.
“Take advantage of opportunities; try to be very open to new opportunities; try to find new opportunities,” Dougan said. “This industry is constantly recreating itself.”
In an earlier OneWire interview, Dougan, who will step down from his position as Credit Suisse chief later this year, said that change is the most consistent thing about the industry and that, as the pecking order on Wall Street shifts, opportunities will present themselves for young people.
“If you look at the people who’ve done really well in the industry over time, a lot of them started off by getting into an area that was small — was just at its very beginnings — and really developed and grew it,” Dougan said.
He began his own career in derivatives at Bankers Trust in Chicago and led that bank to become one of the top players in the field. Because it was a relatively new area, Dougan said, he didn’t need to be well-established in order to succeed, as long as he was smart, quick, and able to innovate.
“One of the best things that anybody can do is to come to you and say, ‘Hey, we’ve got this business that’s broken — it needs fixing. Would you do it?'” Dougan said.
“It allows you to show that you can actually build businesses, fix businesses … It’s what creating value for your institution is all about, and that’s obviously what makes your career move as well.”