“Cancel all outstanding meetings with Carter Holdings. Effective immediately. And notify the working group to withdraw Reed Financial’s participation from any associated commitments.” A pause. “Yes. All of them. Today.” He ended the call and put the phone away.

Ethan was on his feet.

“You can’t do that.” His voice had lost its collaborative register. The businessman’s composure was cracking along a seam he had not known was there. “My company is going public next month. The IPO is—the timing is critical. If you pull support now—”

“I’m aware of your timeline,” Alexander said. He was still standing with one hand resting on his daughter’s shoulder, and his voice had not changed its quality or volume. He might have been discussing a change in weather plans. “I’m also aware that the majority of your institutional investor relationships trace back to introductions made through my network, and that your lead underwriter’s existing relationship with Reed Financial has been a primary factor in the confidence your offering has generated in the market.”

The room was very quiet.