- I’ve got a friend who works in a merchant bank in London... >
I’ve got a friend who works in a merchant bank in London and their corporate policy is to always charge the most expensive fees in the world. I said to him, “Bloody hell, and you still get customers?” He said yes because if you’ve got a takeover on but you lose and have to go back to the board and your shareholders and say, “We lost, but we had the second best advisors, they were £100 an hour cheaper,” they’re hardly going to say, “Well done.”
If you go to the board and say “We had the most expensive advisors but they were the best,” they’ll say, “Well at least you tried and you gave it your best shot.” It’s that philosophy that you’ve got to have. Don’t short change the investment you put in, you’ve got to put everything you can into it. If you don’t believe that you can then you’ve got the wrong product.
Alan Timothyi-snapshot
