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Another senior quant trader just quit BAML for Goldman Sachs

Eliad Hochshteadt

Remember Michael Steliaros? He’s the former global head of quantitative solutions trading and EMEA head of agency portfolio trading at Bank of America Merrill Lynch (BAML) who disappeared in August last year. At the time, we said he was off to Goldman Sachs, and Steliaros did indeed resurface at GS as global head of quantitative execution services in November. Now that he’s settled in, he’s hiring – and his preference seems to be former colleagues from BAML.

Insiders stay Steliaros has recruited Eliad Hochshteadt as he builds out a central risk book trading team for Goldman. A senior portfolio strategist, Hochshteadt joined BAML in 2012 after graduating with a first class honours degree in electronic engineering with computational finance and artificial intelligence from Southampton University.

Steliaros is an algorithmic equities trading specialist. He spent seven and a half years at BAML and previously worked for hedge funds Panta Capital, Winton Capital and FGS Capital. He has a PhD in finance from London’s Cass Business School. His arrival at Goldman coincided with the firm’s increased emphasis on systematic equities trading and the growing importance of central risk trading desks under MiFID II. 

Goldman may not be the only bank hiring in central risk this year. The head of a central risk desk at one U.S. bank said the rush to become systematic internalisers under MiFID II has unleashed a wave of central risk recruitment as banks need to hedge the execution risk they’re taking on under the new system. ” It’s another MiFID II headache,” he told us last week.

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Comments (3)

  1. No surprise,BAML’s Central Risk book is a revolving door. In past 12 months,I received more resumes from BAML CRB than any other bank’s CRB. People work there are disappointed and frustrated. They are not doing well.

  2. BAML’s CRB is a ghost desk. I sit close to them and their desk is constantly empty. Where is everyone?

  3. Sounds like BAML’s CRB head doesn’t know what he is doing.

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