Open the Kimono
To share previously private or internal information — an older, now widely criticised phrase.
What they actually mean
Please never say this again.
Heard in the wild
"Time to open the kimono."
More from Banking
Banking22
To soft-circle
To indicate a vague, highly conditional level of interest in a deal, allowing one to claim credit if it succeeds or pretend it never happened if it fails.
We can soft-circle five million for the round, assuming of course that the wind remains in the east and the moon is in a favorable phase.
Translation
I am saying yes now to make you go away, but I have signed absolutely nothing.
Banking33
Beauty parade
A competitive pitching process where multiple investment banks present identical, glossy slide decks to a client who will ultimately choose their partner based on who bought them the most expensive dinner.
"We have the beauty parade for the acquisition mandate on Thursday, so ensure the logo on slide 47 is perfectly aligned."
Translation
"Let's perform some corporate theatre for people who already made up their minds last Tuesday."
Banking85
Synergies
The savings promised to justify a merger.
"The deal unlocks significant synergies."
Translation
Two teams became one.