Sage Kelly has been (temporarily – he’s going on paid leave) forced out of his $7 million job at Jefferies & Co., not for non-performance but because his customers are embarrassed to be associated with him.
The Wall Street bigwig accused by his soon-to-be ex of being a bed-soiling, drug-abusing wife-swapper was benched Thursday from his investment-banking job — as dirty details of his divorce reported by The Post began to cost his firm clients.
In the interim, Kelly, who rakes in $7 million a year as head of health-care investment banking at Jeffries, will be replaced by Ben Lorello, one of nearly 20 high-ranking execs accused by Christina of being part of her hubby’s cocaine-abusing posse. Kelly is on paid leave.
As a result of the highly publicized matrimonial spat, Jefferies has lost five clients — including one who was mid-deal and cited a “morality clause” in its contract with the company, Fox Business reported.
But the stunning allegations in Christina’s 26-page sworn affidavit — which include claims that Kelly urinated and defecated in bed and on the floor after booze and drug binges — are just “the tip of the iceberg,” a source who used to work with Kelly at their prior firm told The Post.
Kelly, Lorello and co-worker Dung Nguyen — whose wife, Jessica, allegedly engaged in steamy pool sex with Sage Kelly, Christina claimed in court papers — are a group of “ruthless and completely self-serving sociopaths” who loved to party, the source said.
“Many of us left because of the challenges of working in that group. It was honestly a miserable place to work — a complete boys’ club run by Ben,” the source added.
The source said he has hung out with the hard-partying honchos at hot spots like Marquee, Bungalow 8 and PM — and he added that he has “seen Sage pass out and lose his bladder control numerous times.”
During one particularly rowdy night out with a client, Kelly, 42, racked up a $28,000 bill at Scores strip club in Chelsea, the source claimed.
“In typical Sage fashion, he stuck the analyst with the tab. Poor kid almost had a nervous breakdown trying to figure out how to run it through as an expense,” the source said.
Note that Kelly isn’t accused of not making money from his trades; indeed he’s being paid millions of dollars for, presumably his stellar results, and many of his peers receive that much money or more for their own trading activity. But from what I know about Wall Street, Kelly’s behavior – except for soiling his bedsheets, which no one has ever confessed to me – is not atypical, so what’s up? Do these people have such remarkable recuperative powers that they can stay out til 4:00 doing booze, coke and strippers and then stagger into work at 6 and trade effectively, or is what they do really so simple that they can succeed at it even with impaired judgment and at 1/4 capacity?
Either way, nice work if you can get it, I suppose.