nterview of M. Saab

  

- Background, education

0 Educated in states Finance/Econ degree from University of San
Francisco. Econ degree taken at Stanford through ioint program, but
degree from San Francisco Then went to London and worked Merrill
in graduate recruitment program. Equity trading, worked way
over to ultra high net worth family office side Bridge between private
banker and investment bank for the families Ran a book of business
of 100-150M. Was at Merrill for 5 years. Graduated college in '02.

In '07, left and came here Came in Without real title/role, and just kind
of learned the group First real mission was diversifying income
streams. Had small loan book, not performing in line with risk, and we
worked to reduce non>>performing aspect of it, and i looked to diversify
income streams. Set up sales trading platform, and we started making
markets in illiquid fixed income Quickly became largest Cypriot
market maker, providing all the liquidity for hedge funds in states
trying to come in. Looked at treasury book and created HTM book and
created policy for that, investing in quasi-sovereign and sovereign
assets, eventually moved down to assets All bond assets. Then
created short term HTM book focusing on commercial paper Many big
clients were issuing big ponds. And we were moving them over to
short term HTM as they matured Traded only bonds, no equities,

 

    

 

- Card sen/ices - when you start there?
0 Around 2010, '11.
- Was \t on radar at all between '07-'10.

I NC,

- Seems hke bank admits that there were issues and \t dwdn't

reaHy work
- Weren't a lot of \ssues, but there were some that spun out
of control
- Have 3 areas of busmess at FBMECS

 

- Talked about client-facing work. How does it work with compliance
0 I'd say referred 20 chents, but 10 were accepted. Lilit is to
open accounts wwth. used to ca" her the Business Preventwon Unit.
They were normal chents.