Academic journal article ABA Banking Journal

A Salem Protege Sets Her Own Style

Academic journal article ABA Banking Journal

A Salem Protege Sets Her Own Style

Article excerpt

When he worked at Prudential Securities, George Salem was a notorious bear among bank stock analysts. As a boss was he equally tough to please? "George liked to say that working for him for three years was like working for someone else for ten," says equity analyst Ruchi Madan.

Madan thrived working for a demanding superior and went on to take the top spot at Prudential after Salem left (he's now at Gerard Klauer Mattison, New York). "I learned a great deal from George," she says. "He was demanding, but I liked working for him."

Under Salem's tutelage, Madan entered Pru's emerging analyst program just before he left. After completing the program she was named senior regional bank analyst in August of last year. Madan loves the work, despite the 12-hour days it regularly demands. She has wanted to be an equity analyst--bank equities in particular--from the time she entered grad school at New York University.

Madan may be a Salem protege, but she's no clone. "George's style was more macro--looking at broad economic and industry trends and applying them to individual stocks. He was very early in identifying such issues as real estate exposure and LDC debt problems," says Madan. "I'm more micro-oriented--more focused on the companies."

Which is not to say she ignores broad trends. One that currently has her attention is consumer credit exposure. …

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