Rick Ziwot Is 45: There Will Be Cake In The Break Room And A Cash Bar At TGIFriday's Tonight

Posted by Bess Levin, Aug 30, 2007, 1:28pm

If you work in structured finance, you might soon be getting fired, unlike Rick Ziwot, who voluntarily left his job. HSBC confirmed today that Ziwot will depart from his post as the bank’s global head of structured credit products, to be replaced by Jeff Jakubiak, head of structured credit products for Europe, the Middle East, Africa and Asia. Allegra Kelly will become deputy head of the structured credit products group (a title that includes a badge, plus chaps and spurs).

Think Ziwot’s exit has anything to do with fears of major losses for collateralized-debt-obligation investors affected by subprime? Think again. According to HSBC, Ziwot’s departure (and the ensuing shuffle) has nothing to do with the meltdown in the market. Rather, it had to do with “a decision by Rick Ziwot to retire after his 45th birthday, which was in July." Okay, we’ll buy. You set a deadline for yourself and you stick to it, man, you fucking stick to it. (But seriously, who among hasn’t planned to retire at 45? This sounds legit to us, no sarcasm implied.)

Structured-Products Head Is Set to Leave HSBC [WSJ]
Senior US credit banker Caplan departs RBS [Times Online]

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Posted in: HSBC, Subprime Mortgages

Comments

Posted by C Dan, Aug 30, 2007 1:49PM

Are you kidding? I'm not giving up the prime years of my life so that I can retire at 45. I'm thinking a decade earlier, give or take a few days.

Posted by mini ballerette., Aug 30, 2007 2:30PM

ha yeah was just about to say i think 25 is a good age...

Posted by Rip Van Winkle, Aug 30, 2007 2:46PM

It took him that long to retire? Good Lord.

Posted by gab, Aug 30, 2007 3:17PM

Allegra Kelly? Is that a real name? Sounds like a woman in a James Bond movie... bet she's hawt!

Posted by Sir John Bond, Aug 30, 2007 4:09PM

I can confirm that nobody hot (or hawt) works at HSBC.

Posted by toejam, Aug 30, 2007 4:29PM

Wuz hoping the same thing! Allegra, chaps and spurs. Oh my! Dealbreaker should do some diggin' and get us a pic.

Posted by , Aug 30, 2007 4:43PM

sounds like a prescription pill for ED

Posted by juristpurist, Aug 30, 2007 4:45PM

Sounds more like a pornstar with a sinus infection.

Posted by Anonymous, Aug 30, 2007 4:54PM

I worked for this guy at BofA. He's a complete moron, but they pay up for morons at HSBC. Hats off to him for retiring at 45,,,

Posted by gab, Aug 30, 2007 4:59PM

Well, she is on the Bloomberg, so she must really exist. Was hoping there was a picture, but alas, it was not to be.

Posted by Nart Lloyd, Sep 07, 2007 7:01PM

I am excited to report that i have seen Allegra in real life (minus the chaps) and she is hawt!!!!

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