Successful investment banking careers are often seen as inimical to being an active, involved parent. So too are they often seen as incompatible with taking a long time out.Mark Lane, a 44 year-old managing director at Lazard who died after being hit by a speedboat last Saturday, seems to have proven both suppositions false.
Lane, an American, graduated from the University of California Los Angeles in 1993 and spent his career working in both New York and the City of London. His CV is typical of the frenetic movement that marked investment banking careers in the decade from 1995. From university, he joined Salomon Brothers and met his future wife, an associate in corporate finance, before leaving for Merrill Lynch in 1996. He left Merrill for Deutsche in 2001, where he helped expand the European leveraged finance business. He left Deutsche in 2004 and joined UBS in 2006 as global co-head of distressed trading, before leaving to spend more time with his family in February 2008.
Between February 2008 and November 2011, Bloomberg reports that Lane took time out of the industry to raise his four young sons. He’d made enough money that he didn’t need to work.
Around April 2011, Lane reportedly started thinking about getting back into the industry. He doesn’t appear to have wanted for opportunities. A friend told Bloomberg he turned down several offers before joining Lazard as head of fixed income trading.
Friends of Lane are invited to share their memories and make donations to a charity in memory of a friend who died of pancreatic cancer here. Lane’s career is a reminder that it can be possible to combine a financial services career with raising a family, and that taking time out to do so need not prevent you from getting back in again.
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Nomura has not given up on US hiring. (eFinancialCareers US)
BNP Paribas has hired Nomura’s former head of prime broking for a push into prime brokerage. (Financial News)
The Absolute Return hedge fund rich list. Ray Dallio is top: last year he made $3.9bn. (Absolute Return)
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