William ‘Bill’ Fallon, chief investment officer of Goldman Sachs’ quantitative global macro division and one of the most senior quants in its asset management business, has become the latest heavy-hitter to retire.
Fallon left Goldman Sachs earlier this month after nearly 21 years at the bank. He’s held various senior roles during this time at Goldman Sachs including CIO of its global alpha fund and co-CIO of its quantitative equities division. Fallon joined Goldman in 1996 after spending years working as an actuary and as consultant at management consultant the CBM Group.
Goldman’s computer-driven Global Alpha fund, once one of its crown jewels, was shuttered in 2011 (long before the current quant boom) after a management shake-up and poor performance. At one point it had $12bn in assets under management. Fallon’s latest role sat within Goldman’s quantitative investment strategies (QIS) group, a division containing physicists, quants, coders and mathematicians best known for the “quant quake” – one fateful day in August 2007 when the whole thing was nearly obliterated.
He has an intimidating range of academic achievements including a PhD in finance and MBA from Columbia Business School as well as a BS in Finance and Engineering from the University of Pennsylvania.
Fallon is one of several senior quants to exit the bank to tend to his garden in recent weeks. As we reported last month, Guy Saidenberg, the London-based global head of Goldman Sachs sales strats and structuring, retired. His exit unravelled Goldman’s strats team and required the bank to announce a whole series of new internal appointments including naming Ezra Nahum, a partner global head of fixed income currencies and commodities strats, as head of sales strats globally.
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