“After 25 years in finance it was overdue time for me to give back to society”
Do you need to do penance for your time in finance by doing something categorically moral when you quit? The co-head of distribution at one large hedge fund would almost certainly say yes.
Financial News reports that Anita Nassar, Citadel’s global co-head of distribution and a ‘marketing machine’ is leaving to fund raise for a charity that helps under-privileged children, Syrian refugees included, find access to schooling in Lebanon. “After 25 years in finance it was overdue time for me to give back to society,” says Nassar. ” Every year 18,000 children remain out of primary schools and 67% of the students in secondary school are barely graduating. In addition, 502,000 Syrian refugee students need access to Lebanese schools, adding strain to Lebanon’s education system.”
Nassar aims to generate a sustainable source of donations from multinationals, corporates and banks. Teach for Lebanon aims to generate $830k in the 12 months to June 2015 and more than $1.5m the following year. This could be small change: Nassar joined Citadel in 2008 and was reportedly instrumental in increasing its assets under management from $10bn to around $26bn.
Separately, RBS is still at it. Following claims that the British government owned bank is planning to make 90% of its investment banking staff redundant, Bloomberg reports that RBS has said goodbye to another 100 people in its investment bank. They include big(ish) names, like Richard Bartlett, head of U.K. client coverage, and Eric Capp, head of loan and high-yield capital markets.
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