It’s rare that a CEO retires at the end of a long career and then starts working with a company looking to disrupt the business whence he came. It would be kind of like a former top GM executive helping out Telsa. But that’s just what John Mack, former CEO of Morgan Stanley and former co-CEO of Credit Suisse, is doing on the board of Lending Club (LC), a hot Silicon Valley start up that’s connecting investors directly to borrowers and bypassing the banks. In a recent interview with Yahoo Finance Editor-in-Chief Andy Serwer, Mack, 70, says he’s seen all manner of change in his 45-year career on Wall Street, but never as much as right now.
“I think what I would be worried about if I were still involved in the financial business—at least the investment banking business—is what is technology going to do to investment banking,” Mack says. “There are going to be changes. It will not be business as usual.”
Mack points to a generational shift and to the young entrepreneurs who are focusingRead More »from From Morgan Stanley to Lending Club: John Mack's unusual career path