The rise of the super regionals

Steve Metcalfe had been out of the investment banking market for three years when the call came in. Dividing his time between London and Hong Kong he had a portfolio of business interests: a film production company with Mark Hamill (he of Luke Skywalker fame), a wine brokerage and an oil company in Thailand. But in September this year he decided to go back into the markets. Not to one of the bulge bracket global investment banks where he had learnt his trade but to a newly energised Samsung Securities.

“It is great to be back in the business,” he said. “There is a tremendous enthusiasm here.”

Metcalfe is one of a growing number of ex-global investment bankers who have decided to join smaller, regional players, attracted by the opportunity to build a new business away from the politics and pungency that infuse the global investment banks.