The Goldman Sachs people who aren’t waiting for bonuses
Goldman Sachs people might be some of the most optimistic when it comes to their next bonus payouts, but that doesn’t mean the firm’s people aren’t looking for an even bigger (or perhaps more guaranteed) opportunity. We’ve seen a number of the bank’s directors leave this year already.
Patrick Jack, a Goldman veteran in London of six years, left the firm to become head of research for Adelphi Capital, the hedge-fund-turned-family-office. Jack joined Goldman an extensive career in fitness, including coaching crossfit, Olympic weightlifting, and swimming.
Also leaving Goldman in London is Jay Joshi. Joshi also spent six years at Goldman, which he joined from Deloitte, where he was a risk consultant. After a brief stint with Goldman’s internal audit team, he’s back to risk – as an operational risk officer for hedge fund Capula.
In New York, Goldman has lost Morgan Krechel. A quant, Krechel spent 3 years at Point72 before joining Goldman. After nearly four years, he's now left again to join the Chicago Trading Company, where he’s a senior software engineer.
Goldman isn't the only bank suffering pre-bonus exits to trading firms and hedge funds. UBS MD Michael Leuchten has quit too. Leuchten spent 7 years with the Swiss bank’s EU pharma research team (which he headed up throughout the pandemic) in London before leaving earlier this month to be an analyst for Marshall Wace, the hedge fund.
In the end, whether Goldman can pay the massive bonuses expecting of them by their staff is a question of fate. It intends to reward its asset management division – but whether this tightens an already tight belt for the rest of its staff (and most of the respondents to our bonus survey were not asset managers) is something that may be a crunch moment for the firm.
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