Richard Easton
Acerca de
The American Banker
[2001] This reporter had just ended his day at the New York Stock Exchange, corner of Wall Street & Broad, finishing up a story on the Technology Crash of the New Millennium, when I grabbed a drink at one of those Clandestine Bars found only in The Financial Capital, and feeling a bit out of place among the suits and ties guys wearing my salary.
Luckily I sat next to a personable fellow with a voice made for radio, a regular guy amidst Wharton and Harvard Blue Bloods. I made idle conversation hoping the real story of the day might be the one no one sees coming.
continued
Richard Easton entered Wall Street through the back door. Armed only with a degree in English Literature and five years of finance experience, he founded Easton Bank of San Francisco with his hard earned money and a line of credit in 1988: "In those days, attitudes were different." Easton smiles, "Bank presidents lent money over three martini lunches based on a man's character. Today you can only borrow money if you don't need it."
When he was ready to sell Easton Bank SF in 1999, no advisory firm had a quick enough plan, so he sold his boutique bank in three weeks to Merrill Lynch for all cash: "If you have something someone wants, offered at a fair price with total transparency, acquisitions are easy," says Easton, "and that's how I learned M&A."
I visited Easton the next day in his new digs at 14 Wall Street. Investment banking has a new team in town.
The American Banker
Feb 2001 Copyright ©