Sandy Kaul is a Managing Director and the Global Head of Business Advisory Services at Citigroup Global Markets, Inc. Business Advisory Services (BAS) conducts primary research across investors and investment managers and publishes data and analytic pieces as well as thought leadership around how the asset management industry is evolving and what constitutes best practice. Sandy has been with Citi since 2009, returning to the firm after originally starting her career there in 1985 as a Futures research analyst covering the Softs commodity markets with Citi's predecessor firm, Shearson Lehman Brothers. She left in the mid-1990s to become a Commodity Trading Advisor (CTA) and portfolio manager with Commodities Corporation/Goldman Sachs Asset Management. After managing money for nearly 6 years, Sandy shifted her attention to consulting where she led the strategy practice within the Financial Services division of the renowned dot.com firm, Scient, and then went on to become a partner at the capital markets niche management consulting firm m.a.partners/Detica where she worked with hedge funds and asset managers as a client base while performing work with 8 of the top 10 investment banks globally.