Investment bankers never really retire, they merely quit finance and look for affirmation elsewhere. At least that’s the theory. Nonetheless, in the past few weeks some senior bankers have left Goldman Sachs and Barclays for a life outside of banking.
One such investment banker is a veritable wunderkind at Goldman Sachs. Ramnek Matharu quietly retired from Goldman Sachs in New York shortly after his 40th birthday. He only started out in investment banking – at Credit Suisse First Boston – in 1998 after graduating with a first class Masters in Maths from Cambridge University.
By the age of 30, Matharu was an executive director and head of index volatility trading in Goldman’s UK equities team. By 2006 – five years after joining Goldman Sachs – he had made the step up to managing director after stints in Hong Kong, London, Japan and New York. It clearly pays to take advantage of internal mobility opportunities when they’re offered.
Matharu retired in September last year, but his departure has gone unnoticed until now.
His fast-track career stands in contrast to another senior banker who has just called it a day.
Justin Bull, who was latterly chief operating officer of corporate and investment banking at Barclays, left the bank in April. He had been with the bank for 28 years and was promoted to COO during the shake-out of Barclays’ executive suite in September 2013.
Bull took over from Jerry Donini, who stepped down as COO of Barclays corporate and investment bank after less than a year in 2013. At the time, he seemed like a comparatively safe choice – not only had he been at Barclays for a long time, but he’d already held roles such as COO for global markets and chief administrative officer for the bank.
Sheetal Dhanuka, head of European equities principal risk group in London, also recently retired from the bank.