Monday, June 24, 2013

Harvard Grad Swaps Morgan Stanley for Sheikhdom as Deals Dry

Bloomberg writes: After a decade of dealmaking at Morgan Stanley in the Middle East, Peter Fort swapped Dubai’s International Financial Centre for a career promoting investment into one of the United Arab Emirates’ lesser-known sheikhdoms.

Fort, 40, is among a rising number of Persian Gulf expat bankers starting second careers with U.A.E. firms as lenders based in London, New York and Zurich scale back under pressure to boost capital buffers and profit margins. The 10 biggest investment banks, including JPMorgan Chase, Deutsche Bank AG and Citi  have lost about 11,000 front-office staff in the past two years, analytics firm Coalition said last month….

No comments:

Post a Comment