Red Wolves & White Knights by Peter Kysel

Author:Peter Kysel
Language: eng
Format: epub
Publisher: Clink Street Publishing
Published: 2020-03-15T00:00:00+00:00

Flight to London

On the BA flight I reclined in my seat, closed my eyes and reflected on my Prague experience. I felt elated.

I had set out to make privatisation a success for the benefit of the ordinary people. It had been a simple mission but was much harder than I expected. The most exciting job of my life had been accomplished and I had got my revenge. It would not be possible to reverse the reforms now. I smiled as I congratulated myself and ordered a glass of champagne.

The IBD was the most profitable part of the bank. I left on 31st August 1994, with the division reporting an oper­ating profit of 700 million crowns for the eight months. The IKS chipped in with another 300 million crowns. The combined annual profit of the two activities under my man­agement was 1.5 billion. It later transpired that the KB’s total profit during 1994 was half of this figure. The rest of the bank had lost money. I am leaving at the right time. KB is accumulating problems and its red wolves are poor business managers. The bank faces a precarious future and crisis.

The country was about to experience years of rising polit­ical and business corruption. I am leaving behind a politi­cal system controlled by red wolves. The expression of Kmotr (the Godfather) was entering into everyday language. It described the heads of the red wolves’ networks.

I turned to more positive thoughts about my young IBD colleagues and counted their achievements. They grew into their jobs and learned to carry out the largest privatisation pro­gramme in history, within a period of months. They created a share dealing system in record time. Funds under their man­agement now control 15% of the economy. They have become market leaders and the top investment banking team in the country. I am very proud of them.

My IBD colleagues were a team of 130 people. At my leav­ing party I encouraged them to broaden their skills by get­ting international experience. I left it unsaid that the red wolves were driving the country into a financial crisis. Czech privatisation will be sealed only when controls are transferred from the red wolves to the multinationals. Then I dozed off.

I awoke as we were coming into land. I looked at London below.

We turned the economic swamp in my divided homeland into a functioning market economy. There were no rewards when the job was done. I devoted two years to this patriotic project and sacrificed earnings, career promotion in the City and family life. I hardly saw my daughter, my wife, or my friends. The loneliness and separation affected us most.

I learned to appreciate the loyalty of my family and close friends. I also learned not to expect official acclaim. These experiences would guide me for the rest of my life. Stepping into the arrival hall at Heathrow airport felt good.

From now on I’ ll be getting my life back. The new job begins tomorrow. Everything has fallen into place and I am happy.

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