A Challenge and Adventure

When the idea for establishing a Turkish banking institute was first studied by experts in 1985, they found that:

• Less than 20% of bank employees in the country had university degrees

• Fewer than 4% spoke a foreign language

Yet the country was opening rapidly to international finance and trade.

The need for training and education was URGENT, and a new banking institute was proposed by the World Bank to help build a new generation of professionals.

In 1986, I was working for Citibank in Helsinki when I received a call asking if I would consider leading a project in Istanbul to build a world-class, residential training center for bankers on the Asian side of Istanbul which included a major renovation of the decaying Hotel Dragos on the Marmara Sea.

New country.

New language.

New culture.

New project management skills.

It sounded equal parts challenge and adventure.

After a one-night trip to Istanbul, I turned the offer down. Months later, following calls from several Citibank senior executives, my wife and I visited Istanbul together. Visiting the potential institute’s site, we saw the caretaker’s sheep grazing in the lobby of the Hotel Dragos. Nevertheless, we decided to make the move.

The story of creating the Center for International Banking Studies is about a major transformation in the Turkish banking industry and my personal journey.

Coming soon...