Olivier Sarkozy is a famous banker who is popularly known as the half-brother of former French President Nicolas Sarkozy. Olivier is a Masters Degree holder in medieval history who took up his banking career in 1990 with Dillion, Read & Co. He has been a key figure in some of the most famous acquisitions and recapitalizations in the history including the recapitalization of the Glendale Federal Bank for $425 million in 1993 which was the largest recapitalization in the history at the time. Continue reading to know more about the life, career, and net worth of Olivier Sarkozy in 2020.
Early Life & Biography
Pierre Olivier Sarkozy was born on May 26, 1969, in France to Pal Sarkozy de Nagy-Bocsa and Christine de Ganay. His father Pal Sarkozy was previously married to Andree Jeanne Mallah and had three children with her including Nicolas Sarkozy. The two half-brothers used to meet once a week until Olivier became seven years old, as de Ganay divorced Pal Sarkozy and married an American diplomat. Sarkozy spent his childhood and adolescence in countries such as Egypt, Zambia, and the UK and completed M.A in medieval history at the University of St. Andrews.
Olivier Sarkozy initially married Charlotte Bernard who was a fashion writer and also children’s book author. The couple got married in 1990 in the presence of Olivier’s half-brother Nicolas who was the Neuilly-sur-Seine mayor at that time. The couple has two children, and they announced their separation in 2010 after spending 14 years together. Their divorce was finalized in 2011 and Sarkozy became romantically connected with Stella Schnabel. Unfortunately, their relationship fared only for a year after which Sarkozy started to date actress Mary-Kate Olsen. The couple tied a knot in 2015, in a private ceremony in New York.
Career, Awards & Achievements
In 1990, Sarkozy joined Dillion, Read & Co. an American investment bank and after three years he left the bank and joined the Credit Suisse First Boston where serves as the Managing Director of the Financial Institutions Group. He made Wachovia to merge the equals and played an important role in the merging of Dime Bancorp and Washington Equals during his tenure with the CSFB.
Sarkozy was also behind the acquisition of First Interstate by Wells Fargo, and in 2003 he joined UBS Investment Bank as its Global Co-Head of Financial Institutions Group. During his time at the UBS he was behind events such as Sallie Mae’s recapitalization, the sale of ABN Amro’s LaSalle to Bank of America for $21 billion, the sale of U.S. Trust Bank to the Bank of America, the $36 billion sale of MNBA to the Bank of America and the $14 billion acquisition of SouthTrust Corporation by Wachovia.
Sarkozy was associated with the $2.9 billion and the $3 million recapitalizations of CIBC and Sallie Mae respectively. In 2008, Sarkozy became the Co-head and the Managing Director of Carlye Group’s Global Financial Services, and after resigning the post, he became the member of BankUnited’s Board of Directors.
Net Worth & Earnings
The top banker is reported to have been offered a $4 million bonus and a yearly salary of $1.75 million in 2002 by the CSFB. His salary after moving to UBS is expected to be more than $3 million per year. In 2012, he bought a luxury house worth $6.25 million in New York City and 2013 he listed his 8,475 Sqft luxury house in East Manhattan for $12.5 million. He has amassed a huge fortune as a banker, and his net worth is $70 million.
Only a few people in the banking sector become celebrities, as the field does not enjoy much limelight. Olivier is one among them, who achieved fame through his banking skills and knowledge.