At 6:47 a.m., I sent an email to my head of acquisitions. I told her to pull us from the transaction effective immediately with no external explanation.
By 7:30, Rose was in the conference room on the forty-seventh floor. She had been with me since Kensington Capital was small, and she did not ask why I was canceling the deal.
“Sterling is contained,” she said, sliding a memo toward me. She watched me for a beat and noted that I was canceling a profitable transaction over something material that wasn’t in the room.
I met her gaze, and she reached a point of understanding. She asked if she needed to know the details, and when I said no, she simply accepted it.
By 9:00, financial reporters were sniffing around a story they couldn’t yet source. By market close, the damage to the Sterling firm had become impossible to spin.
I was in the middle of a meeting when my assistant, Megan, knocked lightly and stepped inside. She told me there was a Miles Sterling in reception who said it was urgent.
When Miles entered my office, he stopped so suddenly I thought he might have walked into the glass. He looked at the skyline and then back at me as if rearranging reality required visual confirmation.