When you leave Goldman's rates desk to work for a clothes shop
When you leave Goldman Sachs, you're supposed to do something special. As CEO Lloyd Blankfein said yesterday, he was advised that his time at GS shouldn't be his main achievement in life: “When your epitaph is written, and it’s nine paragraphs long, no more than two should be about your career at Goldman Sachs.”
That maybe so, but not all ex-Goldman bankers can go on to become Treasury Secretary, or head of the U.S. national economic council or founding member of a right wing news site. Some opt for more provincial follow-ons.
Take Cecilia Jeppsson. After leaving Goldman's London rates desk, she's recently resurfaced at H&M, the clothing retailer. There, Jeppsson's not working in corporate development or currency hedging: she's a merchandise manager. In the words of H&M, this means she's developing, "strategies for our different concepts, such as Ladies, Men, Kids, Divided, Home and Beauty, and make sure our ranges are adapted to perfectly reflect our different markets."
Jeppsson spent around two years at Goldman after graduating from the UK's Warwick University in 2014. Her new career marks a break from the standard exits into hedge funds, or fintech or private equity. She didn't respond to a request to comment for this article, but her move might have more to do with wanting to go back home than anything else - Jeppsson is Chilean and she's working for H&M in Santiago.
As we reported yesterday, Goldman's rates and FX desks have been losing staff. Jeppsson is one of several exits in the past year.