Mark Osborne explains how he built a career in M&A, managing roughly 45 clients after a 2003 acquisition and bankruptcy. He discusses why the acquired EDMS software proved sticky and describes how Swiss private banking differs from other sectors.
There'll be bigger jumps later, but that's when my love for M&A started. And you'll see that through my career. I love M&A. So 2003, basically suddenly I have 45 clients that do a job I know nothing about, or in a market I know nothing about, and just bought a software I didn't really understand. So 2, 3 years, my job was to go see the clients and say, please don't leave. I know the company's in bankruptcy, But we, and it works fantastically well. One of the reasons it works fantastically well is because I'm personable and people tend to trust me. But joke aside, the main reason it's a super sticky software. Nobody wants to replace its EDMS. And also we're dealing with what the Swiss people call private banking, which is very different than people in the rest of the world call private banking.
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