Bloomberg reports that Desai, 45, will retire as head of Macquarie Capital Asia effective in April to spend time with her family, according to an internal memo obtained by Bloomberg News. Fiona Mcdonald, a spokeswoman for the Sydney-based bank, declined to comment.
Senior banking executives including Gaby Abdelnour of JPMorgan and Goldman’s Yusuf Alireza have left investment banking in the past year, as deals dried up and compensation fell. Macquarie, Australia’s largest investment bank, said in July that its securities unit will probably post a second straight annual loss as Europe’s debt contagion dents appetite for trading and share sales.
Chief Executive Officer Nicholas Moore in July described the securities market as 'very, very tough' and said he didn’t expect the European crisis to improve any time soon.
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