Nice niche

Investment bankers are a conservative lot by nature. They don’t like too much dirt on their white shoes. However, if they are to prosper and earn fat bonuses, they must change with the times. Pioneering bankers have always been criticised by their peers. So it was to be expected that Lazard’s decision to assist Carl Icahn in his bid to shake-up Time Warner has come under fire. When S.G. Warburg introduced the hostile takeover to Britain in 1963 by representing Reynolds Metals’ bid for British A...