BofA's new MD class includes lapsed MDs, 31-year-olds
Making MD at an investment bank is often the culmination of years, or even decades, and is something you only have to do once. For some of Bank of America's new MDs, however, it appears that this is take two.
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One of the new MDs is Sara Farneti, a senior relationship manager in the bank's eFX team. She previously made MD with BNY Mellon over a decade ago, while working in its derivatives sales team in 2013. She left after a year for UBS, seemingly taking a demotion to director, then left for BofA two and a half years later. Now, her MD title is finally back.
Another former-MD regaining the title seems to be Joseph Monitto. He spent at least 14 years at the firm and claims to have made MD, but left in 2008. After a four-year consulting stint, he joined Barclays as just a director. He's been at BofA since 2017.
Most MDs are making it for the first time, however, and some are doing it pretty young. There doesn't appear to be any Kunal Shah-esque 20-somethings, but two of the MDs are 2015 undergraduates, making them roughly 31 years old.
Alexandra Ford is one of them; she made MD in the bank's leveraged loan trading team in New York, having joined the firm as a Georgetown University graduate. She previously interned at BofA, as well as worked on campaign financing for US senators Richard Blumenthal and Tim Kaine.
Chris Woo, meanwhile, made MD in the bank's corporate bond systemic market making team as a quant strategist. He spent the first half of his career in Citi's global markets team in New York, before moving to the bank.
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