An ex-SocGen structurer has a home for former bankers
If you're an equities professional who's just emerging from an investment bank and you're wondering what to make of your career, look at Nacer Idrissi. After leaving investment banks in 2008, Idrissi set up his own company. And now he's doing some big(gish) recruitment.
“We’re planning to hire around 10 people in 2020,” says Idrissi. "A lot of people here have come from investment banks. We have a deep international knowledge pool of ex-sales and traders and an excellent compliance team and we’re expanding fast.”
Ten people may not sound like a lot, but Idrissi's company - Bolt Markets - only employs 13 people now, so proportionately that's a 77% increase. Idrissi says Bolt Markets is evolving: "We started out as financial engineers who help banks mitigate their risks, and then we moved into structured product distribution. We have distribution agreements with over 25 banks," he elaborates. "Now, we’re opening a wealth tech platform to service our external asset managers and family offices clients and are looking to hire private bankers to be also able to service final clients in house.”
Alongside Idrissi (who was actually at SocGen for less than a year before moving to Rabobank for four years) Bolt Market's ex-banking staff also include Johan Nordin, the former head of distribution and ESG (environmental, social and corporate governance) solutions for BNP Paribas in the Nordic region. Nordin joined in September as head of Nordic. Adrien Monteiro, a former Commerzbank salesman, is head of LatAm sales at the company.
While Idrissi might find plenty of takers for his jobs as banks cut their equities divisions, his desired new hires are in fact "senior private bankers," plus some structured product salespeople for the Middle East, Latin America and Europe.
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