Episode 32 – Leadership and Adaptability in Investment Banking with Steven Rathbone of Sout

On the latest episode of The Investment Banking Leaders Podcast, we sat down with Steven Rathbone, Vice Chairman and Managing Director at Stout in New York. From selling real estate in Perth, Australia, to leading M&A deals in one of the world’s fastest-paced financial hubs, Steve’s story is proof that bold moves and a grounded mindset can take you far, literally and figuratively!

Here’s what stood out to us in Episode 32.

A Leap of Faith (and a One-Way Ticket to New York)

Steve didn’t follow the traditional route into banking. In fact, his career started with real estate sales back in Perth. But in 2005, driven by curiosity and ambition, he packed up and moved to New York. The transition wasn’t easy—but as Steve shares, sometimes the most intimidating decisions are the ones that open the biggest doors. His story is a reminder that growth rarely happens inside our comfort zone.

What Real Leadership Looks Like

For Steve, leadership isn’t about calling the shots—it’s about lifting others up. He believes in leading with generosity, helping his team grow not just as professionals, but as people. Whether it’s through mentorship, sharing experiences, or simply listening, Steve’s style is deeply human. He views leadership as a long game that’s built on empathy, perspective, and trust.

Thriving in a Shifting Landscape

We all know the past few years have been anything but predictable. The deal landscape is evolving, and the playbook for success isn’t what it used to be. Steve speaks candidly about the need to stay sharp and adaptable, especially for bankers who built their careers during more stable times. Change is the new constant, and those who embrace it will be the ones who stand out.

Business Development Is a Lifestyle

One of Steve’s biggest takeaways? Don’t wait for deals to come to you. Make relationship-building a habit, not a once-in-a-while thing. From casual conversations with industry leaders to building your brand, business development is all about being proactive. For junior bankers, especially, understanding the why behind these habits can set the stage for long-term success.

Stay Hungry, Stay Grounded

Success starts outside the office, too. Steve shares how he stays motivated through small daily rituals—like audiobooks, workouts, and using downtime to learn something new. It’s about building momentum, even when things get hectic. Investing in your personal growth isn’t just good for your career—it’s good for your peace of mind.

For Anyone Just Starting Out…

If you’re early in your career in investment banking, Steve has one word for you: patience. Setbacks are inevitable, but so is growth if you keep showing up. Focus on your strengths. Keep learning. And know that every twist and turn in the journey is part of your story.

Why You Should Tune In

This episode is packed with lessons for anyone navigating the investment banking world, from newcomers to seasoned pros. Steve brings a rare blend of ambition, humility, and heart to the table. If you’re looking to grow, lead, and adapt with intention, this one’s for you.

🎧 Listen to the full episode below!

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Final Thoughts

Steve Rathbone’s story is more than a career highlight reel; it’s a guide for how to show up, take risks, and lead with purpose. If there’s one thing we took away from this episode, it’s that success isn’t just about the deals you close. It’s about the people you bring with you and the legacy you leave behind!