Barclays, Morgan Stanley lose risk MDs to HSBC, TD Securities
2023 may not be a bumper year for banks, but that doesn’t mean that banks aren’t on the look out for good risk managers to keep them out of (general) trouble.
Frank Baldi is one of them. Baldi was with Barclays for just shy of 15 years and was part of the bank’s Managing Director (MD) class in 2014. Most recently, he was global head of financial institutions & emerging markets wholesale credit risk. He joined TD Securities, part of Toronto-Dominion Bank, last week to be its head of global counterparty credit, based in New York.
Shobhit Thapar is another. A Morgan Stanley veteran of 15 years, Thapar was an executive director and head of traded credit and securitized products market risk, as well as head of market risk for MSCO, the bank’s US broker dealer. He joined HSBC’s traded risk team the other week, taking a promotion to MD in the process. Thapar is also an adjunct professor at the Stevens Institute of Technology, and also based in New York.
The title of “risk management professionals” might not get people turning their heads or biting their lip like “investment banker” or “trader”, but everyone grows up and eventually realizes that work-life balance is more important than corporate bragging rights. Our salary & bonus survey showed that risk professionals have some of the best pay-per-hour in investment banking, beating out localized rivals in finance, compliance, and operations. Three cheers for balance.
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