Public Finance Blog

As we return from celebrating our Country’s 250th anniversary, my phone has once again begun to ring with questions being asked of me.  A common theme to these questions revolves around making a move, but not necessarily having clients that will follow them for one reason or another.

Where Are The Real Green Pastures?

It seems that bankers who left our cottage industry of public finance and went on to what they thought were greener pastures (and this holds for bond counsel, too) are seeking to return to the fold once again.  In other situations, a banker who may be hitting the glass ceiling due to a senior member not allowing them to grow their own business starts to seek outwards.  In either of these cases, is there a way for someone to make a move without an established clientele?  The short answer is yes, but it’s not easy.  So, let’s look at possible solutions.

The Trilogy Of Demand, Revenue & Clients

What makes a banker or counsel in demand?  The answer is revenue; however, if there’s no revenue associated with a move, the next best thing to have is a very strong network of potential contacts and/or clients.  For example, at your current position, can you leverage the contacts that you’ve made to be public finance clients when you regain your seat?  This is especially true for one who has ventured into a role where you may be currently dealing with real estate developers, as an example.  Or you’ve made a lot of contacts with bond counsels that could present work for you upon returning.  Here’s where you really need to take your time and think of the contacts you’ve made and the extent of them that could be future clients.

Teaming Up

Another way back is to piggyback yourself to a senior banker or attorney.  If you can position yourself where you are able to work closely with a colleague who has a solid book of business with clients, and the two of you become a team, now you have become desirable.  The senior banker brings in the revenue, and for the initial time, you become the support banker as you build your book of business.  This “play” works very well with both public finance bankers and bond counsels.  Senior bond counsels want transactional assistance, which you can provide, while they offer the incentive for a firm to want to open an office.  If this idea resonates with you, let’s explore your options together.

Conclusion

You don’t need a resume to chat with us! If you would like to discuss your options, please reach out for a confidential conversation at 760-477-1284 or email at harlan@hfriedmansearch.com. He can also be reached on LinkedIn. Harlan publishes a blog every Thursday here. Subscribe to our monthly newsletter here, which is a compilation of our weekly blogs, so you never miss one. We have also been mentioned in this year’s Forbes, click HERE to read more.  

About Harlan Friedman, JD & Founding Member, H. Friedman Search LLC. Harlan is a thirty-year veteran Public Finance Banker turned recruiter who specializes in the placement of all levels Public Finance Bankers, Healthcare Bankers, Municipal Advisors, Compliance Officers, Issuers, and Bond Counsels.