From investment banking to private equity to… banking, again
Investment bankers love getting into private equity. But private equity people rarely love getting (back, usually) into banking – exceptions, of course, apply.
Exceptions such as Salina Sabri. Sabri joined Barclays last week in New York as a Managing Director (MD) in the bank's securitized product team after three years with Apollo, the private equity fund, where she was a principal in the credit team. Pre-Apollo, she spent seven years at Goldman Sachs.
Sabri might be one of the rare people running out of Apollo, as opposed to running into it. The fund has brought in a lot of Credit Suisse people, including the beleaguered bank’s Securitized Products Group (SPG) in both the US and EMEA.
Barclays' New York investment bank has been hemorrhaging people to UBS this year following complaints that new chief Cathal Deasy was appointed in place of more popular incumbents. However, Barclays' securitized products group might be more appealing. Speaking on the bank’s Q2 earnings call, CEO C.S. Venkatakrishnan called the securitized products group a growth area that has “done very well,” and noted that “banks with big securitized products businesses did better than those without.”
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