According to a new study, money isnt the only thing on an investment banker’s mind. If that were the case, there would be more than a few of these executives that would have left it all behind after making their fortunes. John Mack is a good example. He left Morgan Stanley almost ten years ago with enough to live on for the rest of his life. However, the fact remains that he continued on in the business.
The fact is, according to this study, that these men enjoy the competition between rivals and the money is only a part of all that.
The study that was done by Harvard does mention the fact that while some of these companies lose a great amount of money due to the excessive risk taking undergone by their executives, these same leaders don’t lose much of their personal fortunes that were made outside the firm and before any collapse.
Although it’s unclear how much stock these executives are allowed to sell, this factor does influence the decisions about where they decide to work.