by da n i e l h e l lw i g ( ‘ 1 1 ) + d i e g o A r r oyo ( ‘ 1 0)
On confidence, communication, AND common sense Mr. Henry Gosebruch is a Managing Director at JP Morgan, he graduated from the Wharton School in 1995. He has transaction experience across a variety of sectors, and has worked on over 100 closed M&A transactions, totalling more than $100 billion in cumulative value. In 2007, the New York Times listed Mr. Gosebruch as one of Wall Street’s Future 100 bankers, lawyers and investors under the age of 40. He has also been featured in Bloomberg Magazine, CFO Magazine, Dealmaker Magazine and The Deal. The editorial staff of the iBR had the opportunity to meet Mr. Gosebruch in New York to learn about his experiences over the last decade and his expectations for 2010 as financial markets continue to recover. Mr. Gosebruch, how did you, personally, make your decision to work in corporate finance, instead of going into academia, for example? The great thing about M&A and investment banking is that a good part of the job consists of problem solving; figuring out the best practical option. You always, very quickly, have a practical situation, which is very exciting to me. You only see how transactions really work when you complete one, and to me, that is the great part of the job. Academically analyzing certain problems is part of it, but you’re applying it to real world situations. Some people like to work with actual transactions; others prefer academia. At the end of the day, I am very happy about the direction I went. And working in M&A, do you sometimes still follow up on new, finance-related theories? Many parts of M&A are
not fundamentally different than they were twenty or thirty years ago, we are still advising companies. M&A is based on deal experience and industry knowledge. More important than following new academic publications is transaction experience, and knowing how to negotiate effectively. It’s not about the latest academic financial theory; it’s about bridging that gap between party A and party B. You started at JP Morgan in 1995. Means of communication have changed tremendously. What were the most notable effects on the way business is being done? Everything is just a lot more real-time today. This might be hard for you to imagine, but when I started at JP Morgan, we barely even had e-Mail. We did not have the Internet on our computers. There was only one computer at the corner of the floor with the Internet. Everything happened via phone
i n t e r n at i o n a l bus i n ess r e v i e w
The Spring 2010 edition of the IBR.