SOUTH AFRICA: MERCHANT BANKING: SMALL BUT SUPER RICH
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I worked for all kinds of corporations here in SA. But many of my longest contracts were with banks. I worked for all kinds of companies including mining companies. I know banking the best and I worked in different parts of banking. One of my most fun jobs that I enjoyed was working for a Merchant Bank. Merchant banking is SMALL – very few staff – but they deal with the VERY RICHEST PEOPLE. I was the only computer programmer seconded to Merchant banking at the bank I worked for in the 1980s. Merchant banking is a handful of people, but when they show you the accounting, you see vast amounts of money. Merchant Banking is the most secretive of banking. In Britain they specialise in special banks just for the rich. All the Rich have their own personal banking staff. There’s a special term these days: FAMILY OFFICE or PRIVATE OFFICE. The personal bankers of the super rich.
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