In an ironic twist, six months after a superior’s affair got Barry Bausano promoted to the head of Deutsche Bank’s Global market equities for the Americas, he’s the one who’s found himself on top.
Bausano’s employer, Deutsche Bank, just ousted Goldman Sachs as the broker that gets the best prices for clients and Bausano is getting the credit, even though his adulterous former boss, Robert Karofsky, might truly be the deserving party.
The Bloomberg ranking that named Deutsche Bank the best broker counted the year ending in Sept. 30, 2010. Karofsky resigned on June 23rd, meaning that for 9 out of the 12 months, he was the equity head primarily responsible for the year’s best prices. Bausano led the team for only the remaining 3 months.
But to be fair, he was the co-head of global prime finance before Karofsky resigned, and Bausano didn’t ask for the praise, or the promotion (as far as we know).
When Karofsky resigned because was found to be having an affair with an underling’s wife, Deutsche Bank promoted Bausano to take over.
A Tri-captain in college, Bausano was a star wrestler who made it to the Olympic trials (and was named All-Ivy three times), but was perhaps more well regarded for his ballsy role leading the Harvard Cheerleading team.
In an interview about being one of Harvard’s best athletes in 1985, Bausano told the newspaper, “I’m doing a lot of interviewing with investment banks right now.” But he eventually joined a hedge fund.
After graduating from Harvard in 1985, Bausano joined Julian Robertson’s Tiger Management, where he was reportedly partially responsible for the firm’s shorting the British pound in 1992, a profitable trade for Tiger that was directionally the same as the one that made George Soros famous for “breaking the pound” and earning $1 billion.
Bausano and his colleague David Gerstenhaber (who now runs Argonaut Capital) quit Tiger Management that same year.