Most recently Kayayan was the CEO of Exane from 2004 to 2007 after Exane merged with BNP Paribas equities team. He first joined Exane as head of research in 1997 where he built the European research arm of the company and led a 60-member team over the course of five years. Prior to Exane, he was an analyst at CIC Group, and later head of research.