It's an incredibly powerful discipline to put in place a rule of thumb that deals have to be accretive within some [specific] period of time. At Citigroup, my rule of thumb is it has to be accretive within the first twelve months, in terms of EPS, and it has to reach our capital rate of return, which is over 20 percent return within three to four years. And it has to make sense both financially and strategically, which means it has to have at least as fast a growth rate as we expect from our businesses in general, which is 10 to 15 percent a year.
Nick is a serial entrepreneur: he has built and sold one business; in another business he increased turnover from £2m to £12m in Europe, and then, as head of global business development, increased turnover from £24m to £32m, culminating in the successful sale of the company and exit for the founders. He has consulted successfully with other businesses, including a start-up shoe company, a manufacturing agency and factory in Vietnam, and a high tech Taiwanese innovator. He has also worked with many of the leading brands and retailers in the world, including Nike, Puma, Timberland, M&S and Intersport amongst others.
Internship Description: The UNU-WIDER PhD Internship Programme gives registered doctoral students an opportunity to utilise the resources and facilities at UNU-WIDER for their PhD dissertation or thesis research, and to work with UNU-WIDER researchers in areas of mutual interest. PhD interns typically spend three consecutive months at UNU-WIDER in Helsinki; during that time, they prepare one or more research papers and present a seminar on their research findings. PhD interns may also have the opportunity to publish their research in UNU-WIDER’s working paper series.