Why bankers deserved a tough time, sleep is the way to relax and winemaking is his second job – Manolo Falco, Citigroup’s head of corporate and investment banking for Europe, the Middle East and Africa, talks to Financial News about life and his plans to put Citi in the top three investment banks in Europe.
You say that it's tough to plan far ahead in this industry. But where would you ideally like to see Citi in 10 years' time?
We should be one of the world's top three investment banks - the world by then will have at least one billion more people, and at least 3.5 billion will be middle class or on their way to middle class. If we continue on this path, we will be well equipped to be in the top three. Citi is not trying to be a Goldman Sachs or a Morgan Stanley, we are the only bank to fully integrate its corporate and investment bank - and in this world, I think that's important. Most clients in emerging markets are happy to pay for capital - either in equity or debt - but not everyone is happy to pay for advisory work.