Page 215 - The Way to the Top

Seth WAUGH

CEO of Deutsche Bank America

I was once told that when making a controversial or complex decision, one
should always apply the following test: what would your mother’s reaction
be if she read about it (and your involvement) on the front page of the Wall

Street Journal ? Would she be proud, ashamed, intrigued, confused, happy,
sad? This test has become even more relevant in light of the recent crisis
of confidence that the public has in business leaders—and it must be
applied across one’s entire organization. Any and all decisions should be

able to stand up to the light of day, following the golden rules of common
sense, decency, and fairness. Decisions that compromise those principles
inevitably end up bearing a cost. This might be financial loss, the loss of
reputation, or the loss of a relationship—and is frequently all three.

Clients have often told me that they want two fundamental things from a
relationship: Trust and Consistency. Any decision that destroys the first or
undermines the second may be a decision you spend your life trying to get
beyond.

I have always believed that a company should be greedy for the long

term. Doing the “right thing” consistently is the path to that end. Short-
term greed is the slippery slope to irrelevance, or worse, disaster.

Don’t compromise your principles