Shocked by the antics on BBC TV’s bank drama Industry? The real Square Mile was even WORSE in the 80s, says one survivor
T was 1985 and the Big Bang needed to get A grades for every was transforming the Square one of these. Two Bs in a row meant Mile from a cosy gentlemen’s we’d be on the next plane home. club of bowler- hatted Home I remember being given a B for County- dwellers who caught an assignment which I profoundly the 4pm train back to Tunbridge believed was an A. I pulled another Wells, into a cut- throat arena of almighty all- nighter, secured an A sharp- suited, fast- talking, moneyand kept my place while others hungry types from across the pond. around me didn’t.
They brought with them entirely I learnt not to fear these different business ethics – or rather, marathons. They were manageable, lack of ethics. Their focus on shortalbeit grisly, and I was to repeat them term profits liberated them from regularly for real when I returned antiquated constraints of probity, to London. shame and soundness. I remember one where I was
It all came flooding back to me in tasked with pricing up acquisition the first moments of BBC Two’s new targets for a certain, now disgraced, drama Industry which depicts naked mogul – Robert Maxwell. He ambition, sex, was infamous for drugs, lies and pouncing upon a lethal overwork potential target, among a band of ringing us and young bankers, saying: “I’m confighting for a sidering taking handful of jobs over company X. I at a City investwant a proposal on ment bank. my desk tomorrow
Because back morning.” then, I was one of I would pull the the first female all- nighter, go back investment bankhome and shower, ers to break into return and present that gilded money my findings to a pit. I was recruited, team of eight – like the spies of Maxwell, my boss old, at Oxford and a few flunkies University during from his side. the so- called “milk One time, tired, round” when big hungry, in need of financial firms scooped up ambitious sharpening, I lit a cigarette and undergraduates with offers of money began to smoke. beyond the dreams of avarice. Cue horrified looks from around
During my first three months in the table.
London I worked three weekends “No smoking,” bellowed Maxwell. out of four on a deal as one member “But you’re smoking,” I observed, of my four- person team went down pointing to his smouldering cigar. with glandular fever, and another He gave me a long look, then burst got married before a long honeyout laughing. From then on, he let moon, leaving just me and the most me smoke. I was the only one at the senior member, who was charistable who did apart from him. A matic, brilliant and congenial, and small victory. also an alcoholic. Nicotine was my drug. I could not
I headed off to the company’s New drink whilst doing my job. I would York HQ to begin the official training never have had the energy or the programme. The bank infamously clarity of thought to pull it off. sacked 40 per cent of participants I didn’t take drugs either, though I during this six- month period. To was aware that many did. One of the succeed, someone else must fail. biggest deals done at the time was, as
My particular training was the man who made it happen told modelled on a mini MBA. We were me, fuelled by cocaine. regularly given assignments that But adrenaline and the required us to pull all- nighters. We being fired were a strong fear of enough