Brady dougan investment bank

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In choosing Brady Dougan to succeed Oswald Gruebel in its top job, Brady dougan investment bank Suisse was certainly taking a calculated risk. Not only does he hail from America, a country whose brash and often flamboyant bankers send dogan up the spines of the conservative Swiss, he was doguan, at 47, the youngest investmfnt head of a global banking giant. Brady Dougan was born into a middle class family in the mid-Western state of Illinois. His father, a railroad radio dispatcher, moved the family to a small town in the coal mining belt south of Chicago when Brady was seven. Even before he graduated, he was working a part time job in the banking industry. Once he left university, he joined the investment banking team in Bankers Trust Corporation, moving swiftly over to join a small group within the bank that was working with a new product idea called derivatives. He is reported to have learned to speak Japanese within a year, a remarkable achievement in .

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Dougan’s firm will be backed by Scepter Partners, a syndicate of Middle Eastern ultrawealthy families and state investment funds. The business, which is slated to launch next spring, will aim to make investments across a number of industries while providing investment-banking and trading services, the people said. While the contours of Mr. Dougan’s plans are still taking shape, the concept is broader than many of the boutique firms other senior Wall Street executives have opened as they embarked on the next stage of their careers. Many of them have stuck to peddling merger advice and other businesses that require little financial risk-taking.

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Dougan’s firm will be backed by Scepter Partners, a syndicate of Middle Eastern ultrawealthy families and state investment funds. The business, which is brdy to launch next spring, will aim to make investments invesment a number of industries while providing investment-banking and trading services, the people said.

While the contours brady dougan investment bank Mr. Dougan’s plans are still taking shape, the concept is broader than many of the nivestment firms other senior Wall Street executives have opened as they embarked on the next stage of their careers. Many of them have stuck to peddling merger advice and other businesses that require little financial risk-taking.

Dougan, 57 years old, is going a different route. At the new firm, whose name has yet to be determined, Mr. Dougan could use the funds provided by Scepter to trade with clients and potentially for its own account, as well as underwrite capital raisings, the people said. The entity is expected to draw additional investors, including Mr. Dougan himself, the people said. A former equities trader, Mr. On his watch, the firm was lauded for steering clear of many of the major headaches that hit other banks, but he later left as the firm struggled with poor performance.

At the dohgan firm, Mr. Dougan aims to compete with Wall Street firms in core, capital-intensive businesses. His ambitions reflect challenges facing big banks and the opportunities for upstarts. That his money comes from sovereign-wealth funds also shows that these investors, which have long used traditional banks and private-equity firms as intermediaries to financial activities, want to flex their muscles in new ways.

While the new venture’s total capital is a fraction of the balance sheets held by big Wall Street firms, those banks are required by U. Housing certain businesses in a firm that is outside of the Federal Reserve’s oversight could make them more profitable or allow them to charge less for the same services than big banks do, analysts and bankers have said.

Advances in software and data have also emboldened investmwnt generation of startup executives to use technology to break into parts of the financial-services industry dominated by big banks and brokers.

Dougan’s new firm is exploring ways to bring those methods to investment banking, a place on Wall Street relatively unchanged by technology, according to people familiar with the firm’s plans.

Talks between Mr. Dougan and Bermuda-based Scepter began about six months ago, people familiar with the plans said. Scepter in spun out from BMB Group, a financial firm based hrady Brunei, and its board includes several members of the Pacific nation’s ruling family. It is focused on natural resources and infrastructure, and last year made an unsuccessful takeover bid for Australian oil-and-gas producer Santos Ltd.

Dougan will launch his firm with more funding, at least brdy, than many of the merchant banks that have opened since the financial crisis.

More than a dozen Wall Street executives have struck out on their own in recent years, aiming to peel away business from their former employers. Dougan, investmwnt soft-spoken Illinois native known for running marathons, was credited at Credit Suisse with dojgan in institutional investors, including sovereign-wealth funds, to help strengthen bradg bank’s balance sheet.

Dougan used those relationships to expand Credit Suisse’s wealth-management franchise into the Middle East through a joint venture with Qatar’s state investment fund. But Brzdy. Its share price stagnated and it came under pressure from investors to cut its investment-banking business. Dougan’s successor, Tidjane Thiam, has moved to aggressively shrink the firm’s investment-banking activities.

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Fund management. Credit Suisse to shrink prime brokerage. Brady Brady dougan investment bank had planned to launch his new investment bank a year ago. Newsletter Subscription. After the financial crisis Dougan had steered Credit Suisse on a strict trading orientated strategy, and he stuck to this strategy even after the regulatory environment changed. Tidjane Thiam to head Credit Suisse. Wishing You a Merry Christmas! Credit Suisse moves to offset franc rise. News People Fintech Interviews finews. Sunday, 7 December, European banks.