Jon Sandelman is a rarity in these equity markets. While his competitors seem to do nothing but get rid of staff, cut back on coverage and worry about conflicts of interest between research and investment banking, Sandelman is convinced that his firm, Banc of America Securities, is well positioned to grow the business. “While my competitors are thinking about how to shrink, I’m looking to build,” he says.
Sandelman, who was promoted to the post of global head of securities in June, got a list of those areas of the business that he regards as the sweet spots: prime brokerage, equity derivatives (his own speciality), convertible bonds and programme trading.
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