Alan Closier, the global head of SocGen’s Securities Services, sent a sad note about the sudden death of Ramy Bourgi to clients last week.
He wrote, “We have great regret to inform you of the sudden death of Ramy Bourgi, the head of SGSS.”
The exact cause of death is not known.
Just a year ago, Bourgi was voicing the frustrations that many firms’ client-based revenue teams are feeling.
He told an interviewer, “Our clients are not making as much money as they used to, but they still want higher service and they still demand lower prices and we still have to invest in our business.”
“The stronger will survive.”
“It’s a tough time but the strong and committed will survive.”
The video is embedded below.
Here is a brief profile of Bourgi put together by Global Custody:
Ramy was well-known in the market from his time as head of EMEA for the securities services business at JPMorgan Chase. He was a key player at Chase during the expansion of the investor services business, rising through the ranks to become a highly effective head of custody sales. In 2006 he moved to Cambridge Place Investment Management, an alternative fund manager, before moving to SocGen. His achievements at SocGen include the negotiation of a joint venture agreement with State Bank of India, a commercial agreement with National Bank of Abu Dhabi and a significant expansion of the bank’s network in Eastern Europe and Africa.