Sadeq Sayeed

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Sadeq Sayeed
Born1953 (age 71–72) [1]
NationalityBritish
EducationBachelor of Science
(Electrical Engineering & Computer Science)
Master of Finance [2] [3]
Alma mater Karachi Grammar School
Massachusetts Institute of Technology
(Department of Electrical Engineering and Computer Science)
(Sloan School of Management)
OccupationBanker
Years active1980–present [3]
Employer Metage Capital Limited [3]
Known forChief negotiator in Nomura's acquisition of Lehman Brothers's EMEA assets [4]
Title Chairman [5]
Board member ofMetage Capital Ltd
JS Investments Ltd [6]
Silk Bank Limited [7] [8]

Sadeq Sayeed (born 1953) [1] is a Pakistani-born British banker and businessman. [9] He is known for his role behind Nomura's acquisition of the Europe, the Middle East and Africa (EMEA) businesses of Lehman Brothers in Oct 2008. [4]

Contents

From Nov 2008 till Feb 2009, he was CEO of acquired EMEA businesses of Lehman; and later as CEO of Nomura International plc, a wholly owned subsidiary of Nomura Europe Holdings plc until his retirement in June 2010. [4] [10] [11] [12]

He was the chairman of a London-based hedge fund firm, Metage Capital Limited until March 2019. He has also sat on the board of JS Investments Ltd, and Silk Bank Ltd.

Early life and education

Sadeq Sayeed was born in Karachi in 1953. He attended Karachi Grammar School. Later, he enrolled for an undergraduate program in economics with concentration in electrical engineering from Massachusetts Institute of Technology (MIT). After earning his BS degree, he went on to complete his master's degree in finance from the MIT Sloan School of Management. [3] [13]

Career

Early years : 1976 to 2000

Sayeed started his active professional life in 1976 [13] as a research associate, and subsequently an internal consultant at the World Bank, where he worked for five years. [3]

In 1985, he joined the London office of Credit Swiss First Boston (CSFB) as an associate within the cross markets arbitrage group. From 1989 to 1999, he was a managing director, firstly within the arbitrage group and fixed income divisions; and latterly within the leverage funds group. [14]

In 1993, he taught investment banking at MIT. [14]

Nomura : 2000 to 2010

He joined Nomura Group in 2000, as member of the firm's Management Committee.

On 31 March 2008, a consortium – International Finance Corporation (IFC), BankMuscat, Nomura Holdings, and Sinthos Capital; led by senior banker Shaukat Tarin along with Sadeq Sayeed was instrumental in the acquisition of a controlling stake (86.55%) in Saudi Pak Commercial Bank (SPCB), later rebranded as Silk Bank Limited. [15] [16]

He rose to prominence during Nomura Holdings's acquisition of the Europe, the Middle East and Africa (EMEA) assets of Lehman Brothers in Oct 2008. Sayeed was the chief negotiator for Nomura during its acquisition of the Lehman's EMEA operations. [4] [10] [11] [12] [13] [14] [17]

From November 2008 till Feb 2009, he was the executive vice-chairman and Chief Executive of acquired businesses; [18] overseeing the combined EMEA operations of Nomura and Lehman Brothers. On 2 February 2009, he was appointed as CEO of Nomura International plc, a wholly owned subsidiary of Nomura Europe Holdings plc. He held the position until his retirement on 25 June 2010. He is reported to have received $34m severance package upon his retirement. [10] [19]

After Nomura : 2010 till date

He is the chairman of a London-based hedge fund firm – Metage Capital Limited.

He sits on the board of JS Investments Ltd, and Silk Bank Limited.

In 2021, Sadeq was convicted for a playing in Banca Monte dei Paschi di Siena accounts scandal. [20] [21] On 6 May 2022, Sadeq was fully acquitted by the Court of Appeal in Milan of charges that had been brought against him and Nomura, relating to a transaction between Nomura and Banca Monte dei Paschi di Siena SpA executed in 2009. [22]

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References

  1. 1 2 ltd, company check. "MR SADEQ SAYEED director information. Free director information. Director id 914205692". Company Check.
  2. ↑ "Stocks". www.bloomberg.com.
  3. 1 2 3 4 5 "Financial and Business News | Financial News London". www.fnlondon.com.
  4. 1 2 3 4 "Nomura's European Chief Plans to Retire". New York Times. 16 March 2010. Retrieved 12 January 2012.
  5. ↑ Imperial College Business School, London Speaker – Financial Crises and the Behaviour of Government and Regulators from Sadeq Sayeed
  6. ↑ Board of Directors | JS Investments Ltd Archived 10 December 2011 at the Wayback Machine
  7. ↑ www.bloomberg.com https://www.bloomberg.com/research/stocks/private/relationship.asp?personId=43834614.{{cite web}}: Missing or empty |title= (help)
  8. ↑ "Board of Directors | Silk Bank Ltd". Archived from the original on 16 January 2012.
  9. ↑ "Sadeq SAYEED personal appointments - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk.
  10. 1 2 3 "Record £22m Payoff For Outgoing Nomura Boss". Sky News. Retrieved 12 January 2012.
  11. 1 2 "Nomura to close acquisition of Lehman Brothers Europe and Middle East investment banking and equities businesses on October 13, London, 6 October 2008" (Nomura press release). Retrieved 12 January 2012.
  12. 1 2 "Nomura London chief set for summer retirement". Telegraph. 17 March 2010. Retrieved 12 January 2012.
  13. 1 2 3 "Sadeq Sayeed". The Banker. 4 June 2009. Archived from the original on 2 February 2010. Retrieved 31 January 2010.
  14. 1 2 3 "A biography of Sadeq Sayeed". Efinancialnews.com. 29 September 2008. Retrieved 31 January 2010.
  15. ↑ "History of Silkbank" Archived 17 January 2012 at the Wayback Machine Silkbank Website, accessed 4 September 2009
  16. ↑ "Consortium led by senior bankers Shaukat Tarin and Sadeq Sayeed completes acquisition of SPCB" The News Website, accessed 12 January 2009
  17. ↑ "Nomura Names Sadeq Sayeed as Executive Vice Chairman of Nomura International and Chief Executive of Acquired Businesses". Euro Investor. Retrieved 31 January 2010.
  18. ↑ Hosking, Patrick (22 December 2008). "Business big shot: Sadeq Sayeed". London: Times Online. Archived from the original on 11 June 2011. Retrieved 31 January 2010.
  19. ↑ "Sadeq Sayeed". World Bank. 3 October 2009. Retrieved 31 January 2010.
  20. ↑ "Ex-Deutsche Bank, Nomura Bankers Get Jail for Paschi Roles". news.bloomberglaw.com.
  21. ↑ "Jail terms for 13 bankers over Monte Paschi scandal". The Irish Times.
  22. ↑ "Ex-Deutsche Bank, Nomura Bankers Cleared in Paschi Appeals Case". Bloomberg. 6 May 2022. Retrieved 6 May 2022.
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