Hi, Timo! Who are you and what you do now?
I'm Timo. I founded Gousto in 2012, and have the massive privilege of running an online food business that tries to make the planet and all our lives better. We’ve very purpose-driven. Our vision is to be the most loved way to eat dinner. We currently employ nearly 1,300 people as one of the biggest UK scale-ups. I love what I do: the people, culture, health, and the positive impact we can have on our customers.
When and where did you join Rothschild & Co?
I joined in summer 2008. When I studied International Business Administration at San Diego State University, one of my professors kept saying: “Go into banking. It's great.” I didn't really know what banking was, so I applied to banks. Rothschild & Co flew me to New York, which I thought was unbelievable as a 22-year-old student, and I was offered an internship at their Frankfurt office while I was still doing my exams at University. Then Rothschild & Co said: “Have you ever been to London?” and offered me a position in London, which I thought was amazing. The day after my last exam, I was on the plane to London.
What’s your fondest memory about those early days at Rothschild & Co?
Trying to catch The Northern Line on my first day. It was a particularly hot summer day, and I was completely sweaty, having not being able to fit on to the first three trains because they were so crowded. I turned up to the office completely soaked. I still remember people’s faces. Rothschild & Co was building this fancy new office, so we were stuck in this small, slightly rundown office. The blessing was that I got to sit right next to my MD, Ralf Nachtigall, as he was waiting for his office to be built. Had we already been in the new office, I would have been completely isolated. But I literally sat next to him and observed how he talked to people. I'm still in touch with him and also his boss, Andreas Raffel, who invested into Gousto, which was amazing.
What was the biggest culture shock about moving to London?
The university system works differently in Germany than the UK. The first day at work, I received this invite to join this offsite with all the new analysts from across the world. It said to dress casually. I turned up in a T-Shirt, but everyone else was in a shirt and tie and cufflinks. I got a lot of comments! I think the main difference is that, in the UK, people study classics at Oxbridge, and then go into banking. In Germany, you’re more likely to study hard maths and statistics, then go into banking. Even though I was massively under-dressed, I was the only new analyst who knew how to do modelling.
Have you smartened up since?
Rothschild & Co is still one of the most traditional institutions when it comes to dress code, which I’ve now learned. One thing about being German is that all my shirts have pockets to put your pencil in. It’s typical German engineering – your shirt needs to be functional in case you want to write stuff down. No UK person would have a pocket on their shirt. Another thing that happened at this offsite day was that we had a rope-climbing competition. I don't like heights, but I'm ultra-competitive, and there was one other person who was as competitive as me. We must have climbed the rope 40 times until we couldn't hold on anymore. And that guy was James Carter, who became my co-founder at Gousto.
Have you had a rope-climbing competition since?
No. But we should do!
Are you a member of the Rothschild & Co Alumni Network?
Yes. Work is all about relationships, knowing the right people and staying in touch with people you like, respect and admire. I’ve met a lot of people I greatly admire and had fun with who have gone on to be lifelong friends.
If you could go back in time and give yourself some advice, what would you say?
Start your own business sooner. The people I met back then have become some of my best friends. So cherish the moment, and enjoy hanging out with these people. It is all about people, ultimately.