A UBS sales head left for Citi one year after being promoted to MD
Last month, UBS promoted 174 people to managing director (MD). This time next year, it's unlikely that they'll all still be at the bank; MDs often use their promotion as a stepping stone to a gig elsewhere, and one of the 177 MDs promoted last year has done just that this week.
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Ali Sanai has left UBS to join Citi as a managing director and head of G10 hedge fund and real money rates sales for Europe and the UK. He spent the past eight years at UBS, working in rates sales, and was promoted to MD while serving as its global head of hedge fund rates sales. He joined UBS from Goldman Sachs, where he spent four years and was an executive director.
Sanai is not the first of his MD class to leave. Other departures include Chris Stevenson, a London-based distinguished engineer, who left last September to become trading CTO of the London Metal Exchange. Angelica Nikolaussen, an New York-based MD in ESG advisory, left for an MD role at sustainable investment management firm GEM.
UBS seems to be trying hard to keep its senior staff - those it wants, at least. The firm's annual report last week revealed that average compensation for key risk-takers (KRTs) rose to more than $2m for the first time since 2021; the rise was primarily due to UBS reducing its KRT headcount by over 200 people.
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