A Former Wall Street Titan’s New-Age Investment Bank Is Flailing

📆 6/16/2023 5:06 PM
📰 Forbes

⏱ Reading Time:
11 sec. here
2 min. at publisher
📊 Quality Score:
News: 8%
Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Exos Financial was meant to be a big return to Wall Street for Brady Dougan, the ex-CEO of Credit Suisse. But five years after its launch, the company has already missed payroll and is scrambling to find its way in difficult markets.

n the morning of Friday, January 13, employees at Exos Financial woke up to discover their bank accounts were missing most of their expected payday deposit. Some had received small checks for only a fraction of what they were owed. At 10:30 am that day during a company-wide meeting over Zoom, chief executive officer Brady Dougan informed roughly 50 staff members that the company would not make payroll, former employees say.

Launched in 2018, Midtown Manhattan’s Exos Financial is the creation of Dougan, one of Wall Street’s most successful investment bankers, earning hundreds of millions over his 25-year career at Credit Suisse.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Meet the 'Unicorn Hunters': These stocks are able to acquire companies and still outperform, Morgan Stanley saysMeet the ‘Unicorn Hunters’: These stocks are able to acquire companies and still outperform, Morgan Stanley says
Source: CNBC - 🏆 12. / 72 Read more »