Having studied in three different education systems, lived in six countries and gained two degrees, Coutts managing director Mohammad Kamal Syed explains “there wasn’t actually a plan to get into investment banking”.
Reflecting on his decision to study computer science as an undergraduate – a niche subject in the mid-’80s – Syed says it was not a choice but rather that his “geeky side” forged a path into the sector.
“I had just finished my master’s degree in management science and operational research, which had required me to research the European currency unit [ECU], a predecessor to the euro,” he explains.
“I had to look at the ECU within a basket of other currencies to see whether it was a better diversifier from a risk perspective but also if it had higher returns. This project led me to speak to many financial institutions in the ’80s, and that got me even more interested in this world.”
Following his discussions, Syed was inundated with job offers from investment banks that were impressed by his strong quantitative background.
He says: “It was at a time when although analytics and quantitative degrees weren’t valued in the City, people were starting to see how to apply them to financial markets.”
With a breadth of international and local knowledge, Syed began working as derivatives salesman and trader at the Bank of Tokyo in London in 1986.
He then moved to Japan in 1990 and built the bank’s derivatives franchising capability for Asia Pacific, including all the countries from east of India to Australia, excluding India. Carrying the role of assistant general manager, he also helped the bank build an investment banking platform.
Subsequently, he ran Bank of Tokyo-Mitsubishi UFJ investment bank and was chairman of the executive committee and member of the executive board.
He spent nine years in Japan and joined Barclays Bank in Tokyo in 1992, where he held senior positions including managing director, head of derivatives trading and global markets, as well as being a member of the management and operations committees.
Entrepreneurial spirit
After almost two decades working in investment banking and gaining a wealth of global experience, Syed’s inner entrepreneur led him to a joint venture called Sanwa International with a Japanese bank.
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