In any movie, there is a character who is never the main lead but that actor can be said as the anchor of the entire movie. He won’t be flashy or over the top or very intense. Just a guy doing his/her job and doing it well. We lost a couple of great character actors in Bollywood this week(which is not the reason I wrote this)
I believe the same is true for the transaction banking guys in a bank. They are never the ones who would be in the limelight or be a part of 30 under 30 lists but every bank knows that the bulk of their fee income is just transaction banking guys doing their job and doing it pretty well.
While I was doing my MBA, most of the classmates interested in going to a bank were more interested in IB, PE, or WM roles. The good old transaction banking was supposed to be boring. The availability of cheap capital during those days (even today for that matter) ensured that the newspapers were filled with news items glorifying the IB, PE, or WM guys. The ticket size of these deals, were numbers never before seen in India.
With the world facing a collective trade finance shortage of USD 1.5 trillion (India’s share is 7%) and the impending slowdown due to COVID-19, I know our time of reckoning has come.
Here’s a shout out to all transaction bankers!