Stephen Gerson is on the move again. As we reported in 2019, Gerson - who's worked in banking since 1997 - joined UBS as a managing director covering the fintech sector. Now he's been poached for a similar role at Morgan Stanley in New York.
Gerson, who is still technically employed by UBS according to his FINRA registration, has updated his LinkedIn profile to reflect his Morgan Stanley move.
Morgan Stanley's fintech banking team is run by Jigar Patel, a managing director whom the bank hired from Barclays in 2014.
Citing figures from Dealogic, Business Insider reported in August that U.S. fintech M&A deals had already reached $62bn in value, compared to $44bn in 2020.
Credit Suisse hired Orazio Tarda from HSBC as its UK-based global head of fintech in August, but headhunters say there hasn't been much fintech banker hiring in the U.S. so far this year, but the pace of recruitment is likely to increase in 2022. "I know a lot of people are looking for fintech bankers but not many senior bankers have moved this year," says one. "Although, there is a team from a large bank out there shopping themselves at the moment and there are multiple searches ongoing."
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