This Is What British Bankers Call The Big Deals They've Closed

tombstones

Photo: Philipp Klinger

One of the best things about Wall Street (or lamest depending on your perspective) is the lingo.Well on the other side of the pond they have their own lingo too, as we learned from Joris Luyendijk’s banking blog in The Guardian.

Joris sat down with a VP of Corporate Finance in one of The City’s banks, and he gave us some new words to appreciate. He was talking about how clients judge bankers by the big deals they’ve closed.

And here’s what they call those deals (from The Guardian):

“Clients attach enormous importance to track record. They might ask: ‘So tell me about the last IPO… you did in country X?’. When we close a big deal, we have trophies called ‘tombstones’. It might read ‘Sainsbury’s plc GBP5bn rights issue’.

Cute. Also, morbid.

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