While studying communications, business administration, and management at Concordia University in Montreal, he founded an event management company that brought stars like Kanye West and Common to campus. His family immigrated from Iran to Canada with only $20, and his father worked as a taxi driver while earning his PhD.īut before dreams of success on Wall Street, Nazhad wanted to go into music. Here's a look at how they did it.Īrash Nazhad, managing director on the clean energy transition investment banking teamĪrash Nazhad thanks his parents for helping him develop a strong work ethic, which has been crucial to his success at Citi in investment banking. Nazhad, Smith, and Marmot spoke with Insider about achieving MD status. Three of the new MDs - Arash Nazhad, Aerin Smith, and Ben Marmot - highlighted the role that tech has played in their careers.Īll three also took nontraditional paths, with backgrounds in music management and politics and degrees from universities outside the Ivy League-concentrated pipeline big banks typically recruit from. The first class of promotions under new CEO Jane Fraser was one the bank's biggest and most diverse - globally, 34.6% of new MDs are women, while in the US, 35.3% are Black, Hispanic/Latinx, or Asian.Īt Citi, some young leaders made the cut by embracing digital transformation and focusing on new ways for technology to change the way they work. The title comes with the opportunity to lead larger teams and a base salary well into the six figures.Įarlier this month, Citi tapped 306 employees for its newest class of managing directors. Outside the C-suite, MDs represent the highest level many employees achieve at a bank. Managing director-promotion season has kicked off on Wall Street. The new execs also gave advice for young professionals just starting their Wall Street careers.Three new MDs spoke with Insider about how they achieved this career milestone.Citi promoted 306 employees to managing director earlier this month.Account icon An icon in the shape of a person's head and shoulders.
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