There was a fascinating article recently in the Financial Times about the investment banker Siegmund Warburg, founder of SG Warburg & Co. Naill Ferguson, the author of the article, quotes Warburg’s “important elements of a first-class private banking business”:
1. Moral standing
2. Reputation for efficiency and high quality brain work
3. Connections
4. Capital funds
5. Personnel and organization
Those elements should be important not only to an investment banking business, but also to a real estate business and, for that matter, to all businesses and organizations. Sometimes values that are derided as quaint and old-school re-emerge as wholesome and timeless. Hats off to the Warburg values...
Steven Karbank
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