Ex-Deutsche Bank rates sales head poised to make a comeback
Remember Haroon Sana? He was head of global rates sales at Deutsche Bank back when Anshu Jain was still CEO and Deutsche was still paying bonuses. We have it on good authority that he's about to stage a return.
Sana has spent the past 22 months toiling in relative obscurity at Scotiabank in London. He joined the Canadian house in mid-2015, two years after leaving Deutsche mid-year for reasons that were never made clear.
Now, the FCA Register shows that Sana left Scotiabank last week. Sources say he's poised to join Standard Chartered as head of European sales and global head of rates sales. Standard Chartered was unable to confirm the appointment.
Standard Chartered isn't exactly J.P. Morgan or Goldman Sachs (or Deutsche), but Sana's new role would nonetheless mark a step back towards the limelight. Neh Thacker, Standard Chartered's global head of rates, previously worked with Sana at Merrill Lynch and is thought to have been instrumental in appointing him.
As we reported yesterday, Standard Chartered's sales and trading business struggled last year. Rates revenues fell 11% on 2015, compared to a 54% increase at HSBC. Sana's arrival looks like an attempt to address this - although it's not thought that he's filling the gap left by Vinod Aachi, the global sales head who left last month.