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

📆 6/20/2023 7:12 PM
📰 Forbes

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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.

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