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Goldman Sachs & Citi are losing macro traders to hedge funds

Macro trading had a very nice 2022. And it seems banks are expecting the action to continue – we’ve spied at least two senior traders moving from banks to hedge funds.

Gary Stein joined Millennium as a portfolio manager after seven years at Goldman Sachs, most recently as the bank’s head of Latin American FX trading. He joined the firm as a VP from UBS and was part of Goldman’s 2022 class of managing directors. He’s based in New York.

Karl Abdelnour, meanwhile, joined Schonfeld, also as a portfolio manager. He left Citi after 4 years with the bank, and was most recently head of US swaps trading. He’s also based in New York.

Stein and Abdelnour aren’t the only Marco traders moving around. Goldman lost an entire team to Marshall Wace the other month – and Morgan Stanley has been picking off traders from Bank of America and Citi after losing some to Deutsche Bank.

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Have a confidential story, tip, or comment you’d like to share? Contact: Zeno.Toulon@efinancialcareers.com in the first instance.

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AUTHORZeno Toulon

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