Sunday, April 5, 2009

In the Loop

Well, I have left BofA altogether. I have signed on with a smaller private investment bank named Loop Capital Markets LLC. Loop started as a municipal bond shop about 12 years ago and has diversified into corporate finance so that about 50% of revenues are from the municipal side. Smaller firms like Loop are poised to capitalize on the current environment as the big banks are shedding jobs and delve further into making money at a client's expense. I like Loop because they are client focused and if telling a client that the best thing to do is nothing, that is okay. At BofA one would be chastised to no end for not "putting the firm first".

It may sound hypocritical coming from a banker (especially to some anonymous "fans") but I truly believe that clients interests should be absolutely a top priority, not lining your pockets with fees from structures that make no sense. So, I am excited about this opportunity. Loop wants to expand its presence in the southeast and I am "getting in on the ground floor". I have long sought something more entrepreneurial in nature and now I have it. I will update the blog as things progress.

Running is going very well but it was wise to bag Umstead. I could have definitely finished but it would not have been pretty. Lastly, the weather has been fabulous in NC this weekend. I always love this time of year.