In another conversation, I gained a new dimension as to how the regulatory and governmental influence is changing a bank’s outlook.
I was talking with a very senior manager in a bank. This person heads up risk, audit and compliance. He is a member of the bank’s executive board. A heavy hitting player.
He had been with the bank for a long time and had experience of every aspect of the bank’s business. He knew the key people in every part of the bank, the foibles and fundamentals of all aspects of the business.
But he told me it meant nothing, was worth nothing and was no longer relevant.
All that experience, knowledge, understanding … for nought.