Vikram Pandit of Old Lane
Posted by g.e. on July 22, 2006
Its only a matter of time before we see Old Lane mentioned in the same breath as other boutique investment banks such as Lazard, Greenhill, Evercore Partners. (Or so i hope :). The beginnings of this indie bank can be traced to the famous management shake-up at Morgan Stanley by its then CEO (Purcell) that set off the exodus of talent from Morgan Stanley. The famous among them being Perella (see below), Anda (who returned to MS), Meguid, Pandit. After much speculation in the media about his return to Morgan post-Purcell (who himself was kicked out shortly afterwards), Mr Pandit (dubbed by The Economist as one of the top wallstreet strategists to watch in 2005) went onto found Old Lane along with other partners from Morgan Stanley. PS:The other positive fall outs from Purcell’s famous shakeup include the establishment of Perella Weinberg Partners by Joseph Perella (who left along with Mr Pandit) and the return of the king Mr John Mack at the helm of Morgan Stanley.