Each week we dig into the memory bank of the City’s great and good. Today, Megan McDonald, CEO of investment bank Daiwa Capital Markets Europe, tells us how she went from selling mangoes in South Africa to the City C-suite
What was your first job?
I grew up on a farm in South Africa. Mango was our main crop during the summer, and so I would stand on the side of the road flagging down cars to sell fruit. Over time, I came up with different ways to advertise them. It was my first experience of marketing and selling a product.
What was your first role in the City or business world?
I always saw myself as a corporate lawyer. Then in the early 00s, I was asked to join Standard Bank as a lawyer in its capital markets team. I planned on it being a three-year stint, but instead of going back into private practice, I became a banker and remain one over 20 years later.
When did you know you wanted to build a career in banking?
I never set out on a career in banking. But then I got exposed to the depth and breadth of opportunities that capital markets can offer. One early highlight was working on the first Eurobond for Kenya, raising billions for healthcare and education. It made me realise that I could have a bigger impact in capital markets.
What’s one thing you love about the City of London?
I love the City’s history. What makes it so fascinating is that it has always been a melting pot of people and ideas, as well as products and services. I love looking at buildings which are hundreds of years’ old but were at the cutting edge of architecture in their time. I also love to see the melting pot sustained through a vibrancy that comes from global talent.
And one thing you would change?
The City has led the way on environmental finance, but I’d like to see more progress on social finance. This is harder to do because the metrics are more difficult to define. It’s something we’re working on at Daiwa and, with all the talent at its disposal, the City as a whole can do more. As a South African, I also have to say that it would be great to have more sunshine!
What’s been your most memorable dinner?
Earlier this year, the Japanese emperor came to the UK for a state visit, and I was fortunate enough to meet him at an embassy reception. The emperor is a huge fan of Ekiden, which is a long-distance relay race and national sport of Japan. Upon hearing that the UK’s first Ekiden race took place that very day – and that Daiwa had entered a team – the emperor shook my hand, which is a great honour in Japan. This is not something I imagined would happen when growing up on my parents’ farm!
And any business faux pas?
I can’t think of a faux pas but I learn more about social etiquette every time I visit Japan. The protocols are much more extensive than here in the City, but what the Japanese can teach us is how to show thoughtfulness and respect.
What’s been your proudest moment?
Becoming CEO of Daiwa Capital Markets Europe because it is a privilege to lead others; it’s more evidence that women can hold senior leadership roles and it has given me the opportunity to make a bigger impact, drawing on the bank’s Japanese heritage.
And who do you look up to?
There are many people whom I look up to which is why there is one quote from Billie Jean King which always sticks in my mind: “If you can see it, you can be it.” The more people we see in leadership roles from diverse backgrounds, the more this will encourage talented people to progress.
Are you optimistic for the year ahead?
There are many reasons to be optimistic. At Daiwa, we’re seeing a seismic change in the Japanese economy which is already presenting a lot of opportunities for investors in Europe. This is a long-term structural change, the likes of which we haven’t seen for 30 years.
We’re going for lunch, and you’re picking – where are we going?
I love the Ivy Asia St Pauls. It offers fantastic views over the City’s most iconic building, with great Asian food!
And if we’re grabbing a drink after work?
Wagtail is a great rooftop bar where you can enjoy the juxtaposition of historic buildings like the Monument to the Great Fire of London alongside modern developments such as the Walkie Talkie.
Where’s home during the week?
Chelsea.
And where might we find you at the weekend?
Meeting friends for lunch.
You’ve got a well-deserved two weeks off. Where are you going and who with?
Greece with my family. I love the food, beaches, history and people. Any island will do!
Quickfire round:
Favourite book? Of Mice and Men by John Steinbeck
Favourite film? The Birdcage
Favourite artist/musician? Carole King
Favourite place in London? Wimbledon Centre Court
Cocktail order? Strawberry Margarita
Coffee order? Green Tea