In an interview we had especially looked forward to, and with the Credit Suisse acquisition behind us, the MMP went to Zurich to talk to Colm Kelleher. Described as one of the most influential and capable banking executives of the last several decades, he has also been dubbed by the FT as 'Europe’s most powerful banker.'

As Chairman of the UBS board, he helps manage an organisation with approximately $5.7 trillion in assets, employing 112,000 people.

After discussing the early forces that shaped him, he explains why he realised US Banks were better placed to outgun their UK rivals, why he joined Morgan Stanley, and the journey to CFO and President.

He discusses the brutal intensity of fighting to keep Morgan Stanley alive from following Lehman, and the emotional scars it left. Colm describes the attraction of UBS, the preparation that made the Credit Suisse deal work in such an orderly manner as well as the business, the brand, and its position today.

He explains what culture means to him, Europe’s position in financial services, disintermediation, and the likely shape of banking going forward and why banks shouldn’t seek to be entrepreneurial.

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TOPICS:
00:00:00 - Introduction
00:02:02 - Growing up in an Irish Community
00:04:15 - Transition to Morgan Stanley and the Importance of Client Relationships
00:06:32 - The Power of Teamwork in Times of Crisis
00:08:42 - Dealing with Financial Panic and Stress in the Industry
00:10:48 - Reflections on Leadership & Friendship
00:13:01 - The Courage of John Mack
00:15:12 - Transition to UBS
00:17:32 - Credit S Troubles and Preparation for UBS Deal
00:19:45 - Emotions and Reflections on Economic Crisis
00:21:55 - Reflection on Company Culture
00:23:59 - Assessing Risks in the Banking Sector
00:26:11 - Initiatives for European Banking Reforms
00:28:21 - The Impact of Brexit on Market Structure and Capability
00:30:31 - Global Expansion and Market Positioning in Asia
00:32:39 - Reinforcing Good Values and Building Culture
00:34:49 - The Role of a Bank in Servicing Entrepreneurs and Clients
00:36:57 - Lessons Learned and Dealing with Stress
00:39:06 - The Importance of Surrounding Yourself with Supportive Partners
00:41:11 - Conclusion

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All content on the Money Maze Podcast is for your general information and use only and is not intended to address your particular requirements. In particular, the content does not constitute any form of advice, recommendation, representation, endorsement or arrangement and is not intended to be relied upon by users in making (or refraining from making) any specific investment or other decisions. Guests and presenters may have positions in any of the investments discussed. The Money Maze Podcast is funded by third party advertising, with all episodes editorial - and not commercial - in relation to all interview content discussed. Please note, Money Maze Curated Podcasts do not contain third party advertising, and are instead funded by the featured interviewee and/or their business (these episodes are commercial, as opposed to editorial features).