DC Advisory has lost three managing directors from its European private equity secondaries unit over the past year, with Sabina Sammartino being the latest departure according to regulatory filings. The exits signal ongoing challenges for the Japanese investment bank's GP secondaries business in the region.

Private equity secondaries involve buying stakes in existing funds rather than new commitments, and the departures suggest DC Advisory may be scaling back this specialized area. The unraveling of the team reflects broader retrenchment across financial markets as firms reassess strategies amid economic uncertainty.

These departures could impact the bank's ability to compete in European secondaries transactions, which typically involve significant capital commitments and relationships with institutional investors. With multiple senior executives leaving, clients may seek alternative advisors for their secondary portfolio needs.

The moves indicate that even established players are rationalizing operations in niche markets where deal flow has slowed. Sammartino's exit marks the culmination of a year-long talent drain that leaves the unit significantly weakened at a time when market conditions favor consolidation.