The writer is a former chief executive of HSBC
My 30 years in banking have been heavily shaped by crises, particular the Asian financial crisis in the late 1990s and the 2008 global financial crisis. My mentor through both taught me to think about a crisis not as a single event, but as a series of episodes, much like waves breaking on a beach.
The aim was to challenge the understandable psychological desire to anticipate the end — this tendency makes us want to believe the current wave is the last, when it very rarely is. The teaching forced us to keep scanning the horizon for the next wave and prepare accordingly. Hindsight is a wonderful thing, but as we navigate this global health crisis, I see some interesting parallels with the past.
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