Madrid Banking Tour

There is a quote from the book "The World is Flat" that goes a little something like this:

Every morning in Africa, a gazelle wakes up. It knows that it must outrun the fastest lion or it will be killed. Every morning in Africa, a lion wakes up. It knows that it must out run the slowest gazelle or it will starve. It does not matter whether you are a lion or gazelle. When the sun comes up you had better be running.

People say this a great explanation of the Banking world...

Yesterday was the first annual IESE Madrid Banking Tour. I flew up to Madrid and met Irene (from Uruguay), Gonzalo (Argentina) and Francisco (Portugal). Took a cab up to Cuidad Grupo Santander up in the mountains where we met the other IESE students. Seriously, this Spanish bank, Santander, had actually created it's own "city" away from it all, completely isolated, with 6 restaurants, a day care center, a spa, a golf course, a gym, a mini hotel, and so much more. I've never seen anything like that in my life!

Main thoughts of Santander after visit: Regal, competitive, aggressive, entreprenuerial, macho, extravagent, holier-than-thou, the "Goldman Sachs of Spain." Although my team facilitator Martin worked at Santander last summer and I find he is a great guy... I just don't see myself feeling complete at Santander. I'd have a feeling I'd be really lonely up there without my high rise buildings. And I don't need a city away from it all to feel like I am Master of the Universe.

Santander donated one of their buses to take us to BBVA, a mainly retail bank that is growing their investment banking wing. Kind of like Wachovia was when I first joined. Although their building wasn't nearly as nice (or a city), it was very much in the center of Madrid which I liked a lot. And what's more, the people there were just super, super nice people.

Our tour guide who showed us around the trading floor used to work for Santander. But he was so proud of working for BBVA. I could see this pride in the other employees as well. It was like they were one big family, just like Wachovia is. He showed us to the Fixed Income trading floor, and I became nostalgic looking at the 4 computer screens and multiple charts and trading platforms. I wished I was back there trading again. I had a good feeling.

When our guide took us down to the equity trading floor, he said it was newer so the lighting was a little different. But when we entered, I had the most ebullient feeling... when the doors to the trading floor opened up and the light hit me, I felt like I was in one of those scenes where you enter through the gates of Heaven and the choir of angels sing... I swear, it was that feeling! And I knew this felt right for me! The equity trading floor at BBVA... it was amazing. As we walked around, Irene pointed out a research report on a trader's desk.

"Hey Ann, isn't that where you used to work?" she said.

I couldn't believe it. It was a Wachovia research report! Unfortunately, I was too exhausted from lack to sleep to enjoy the moment half as much as I could have.

After the tour, Irene and I took a cab to the airport where we met Gonzalo, running his hands through his hair (inside joke...) We studied together for a few hours while I waited for Juan Pablo to get off work so that he could see me at the airport. He didn't make it this time, and I was kind of glad, since I didn't look my best. I almost looked like I had been beaten up from exhaustion and general fatigue. I had a great time with Irene and Gonzalo. South Americans are just so much fun.