Exchanges Gregg Lemkau on How Investment Banking has Changed in his 28 Years at Goldman Sachs
Dec 8, 2020
Gregg Lemkau, co-head of the Investment Banking Division at Goldman Sachs, discusses the changes in investment banking over the years, the influence of mentors on career development, impacting lives through small gestures, and advice for investment banking analysts.
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Trial by Fire
- Greg Lemkau's first day involved an unexpected client meeting, a flight to Memphis, and presenting to seasoned professionals.
- Feeling unprepared, Lemkau was the sole Goldman Sachs representative in a room full of industry veterans.
Scaling Up
- Deal sizes have increased dramatically during Lemkau's career, from millions to tens of billions of dollars.
- The fees now dwarf the size of early deals, reflecting growth in the investment banking industry.
Voicemail Addiction
- Before email and cell phones, Goldman Sachs relied heavily on voicemail, impacting work-life balance.
- Lemkau recalls checking voicemail from payphones on vacation, highlighting the always-connected nature of the job now.