(Dovi) Frances spent 4 1/2 years in the Israeli army (the requirement is 3 years for men). During that time, he was in the infantry and attended the officers' academy. He went on to graduate from business school, and then followed his older brother to Deutsche Bank in San Francisco in June 2008.
He was a junior-level bank employee when he woke up and watched the news of the Lehman Brothers' collapse that September.
Despite the financial-market meltdown, Frances didn't lose his job. That's because there was one financial instrument that Deutsche Bank had that other banks didn't — loans. And Frances excelled in selling loans.
However, when the government rolled out the Troubled Asset Relief Program (TARP), his competitive advantage was destroyed. Other banks had started extending credit, and his pipeline was gone overnight.
He didn't give up, though. Instead, he thought of a new idea to get clients.
"With that, I needed to figure out a way to reinvent myself as a banker. I decided to do something no banker has done before — direct letters to people who are not clients who reside in properties in excess of $5 million."
Frances worked with Deutsche's legal and compliance to draft the letter. He sent out 2,000 and received two responses. One of those responses was from Sergey Grishin, a Russian billionaire...
http://www.businessinsider.com/sg-financial-dovi-frances-profile-2014-4#ixzz2yhlr6GnX
He was a junior-level bank employee when he woke up and watched the news of the Lehman Brothers' collapse that September.
Despite the financial-market meltdown, Frances didn't lose his job. That's because there was one financial instrument that Deutsche Bank had that other banks didn't — loans. And Frances excelled in selling loans.
However, when the government rolled out the Troubled Asset Relief Program (TARP), his competitive advantage was destroyed. Other banks had started extending credit, and his pipeline was gone overnight.
He didn't give up, though. Instead, he thought of a new idea to get clients.
"With that, I needed to figure out a way to reinvent myself as a banker. I decided to do something no banker has done before — direct letters to people who are not clients who reside in properties in excess of $5 million."
Frances worked with Deutsche's legal and compliance to draft the letter. He sent out 2,000 and received two responses. One of those responses was from Sergey Grishin, a Russian billionaire...
http://www.businessinsider.com/sg-financial-dovi-frances-profile-2014-4#ixzz2yhlr6GnX
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited:
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
