Euromoney pointed out the injustice when Rob Karofsky got second billing in the announcement in 2018 that he and Novelli were appointed co-presidents of the investment bank at UBS, to fill the impeccably tailored hole left by the resignation of Andrea Orcel.
Karofsky’s securities division was generating more than twice the revenue of Novelli’s advisory and capital markets unit at the time and the gap has only widened in the intervening years.
Equities sales and trading brought in $4.5
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