#2 Mike Certo / Ed Watts – The origins of the title “Lessons Learned”

It is a great privilege to welcome two guests today both of whom I have worked closely with, in Zurich and New York and both of whom have mentored me over the years. Mike Certo and Eddie Watts served Goldman Sachs in Operations in both London and New York.
They were exceptional talents of their day, something Goldman acknowledged when it included them in the very first cohort of senior managers to be designated Managing Directors, back in the mid-’90s.
Mike, Eddie. Welcome and thank you so much for supporting my nascent efforts.  You have a wealth of history.
Please tell us about the origins of the title “Lessons Learned”
An afterthought:
I was looking in the archives for material for the show and one very big Goldman mess of yesteryear came to mind, albeit not one that we ended up looking at together. I thought I’d share the humorous side of one of those messes.
Years back Goldman was heavily involved with the financier and publisher Robert Maxwell.
Goldman Sachs found itself very publicly involved in the affairs of Sir Robert Maxwell, or Cap’n Bob as he was known on Fleet Street. Then suddenly, Cap’n Bob was found dead, floating in the Mediterranean near his yacht.
During an Operations Management call, one of the managers asked the partner in charge of Ops, Rick Adam, if there was any comment he would make on the incident. Rick, an ex-Marine, was obviously constrained by the fact that lawyers were involved and things were all sub judice, but he offered the following comment: “There is little that I am allowed to say, however they’re one thing I want to make clear and that is that those who borrow money from the firm should either pay it back or learn to swim.” Priceless.
You have been listening to the first in the podcast series, The Banker’s Plumber – Lessons Learned.
25.00CHF

The Bankers' Plumber's Handbook

Control in banks. How to do operations properly.

For some in the FS world, it is too late. For most, understanding how to make things work properly is a good investment of their time.

My book tries to make it easy for you and includes a collection of real life, true stories from 30 years of adventures in banking around the world. True tales of Goldman Sachs and collecting money from the mob, losing $2m of the partners’ money and still keeping my job and keeping an eye on traders with evil intentions.

So you might like the tool kit, you might like the stories or you might only like the glossary, which one of my friends kindly said was worth the price of the book on its own. Or, you might like all of it.

Go ahead, get your copy!

The Bankers' Plumber's Handbook

Control in banks. How to do operations properly.

For some in the FS world, it is too late. For most, understanding how to make things work properly is a good investment of their time.

My book tries to make it easy for you and includes a collection of real life, true stories from 30 years of adventures in banking around the world. True tales of Goldman Sachs and collecting money from the mob, losing $2m of the partners’ money and still keeping my job and keeping an eye on traders with evil intentions.

So you might like the tool kit, you might like the stories or you might only like the glossary, which one of my friends kindly said was worth the price of the book on its own. Or, you might like all of it.

Go ahead, get your copy!