Senior traders who left Goldman Sachs earlier this year are turning up in their new roles now that the summer is over.
Edward Rossetti, who vacated Goldman Sachs in April 2019 has lately manifested himself at JPMorgan in New York, where he seems to have a bigger role. At Goldman, Rossetti was 'just' a vice president level ETF trader according to his LinkedIn profile. At JPM he will he head of all ETF trading.
Rossetti isn't the only ex-GS person to reappear. Michael Jalkut who was a senior portfolio manager in the emerging markets debt group at Goldman Sachs Asset Management just arrived in his own new role at Citadel's global fixed income fund in New York. Derek Arnold, who quit at the same time as Rossetti and worked at GSAM in London as a currency portfolio manager, also turned up at Citadel in London.
Although neither man divulges when he stopped working at Goldman, Rossetti's exit was reported in April and Jalkut and Arnold were known to have quit in July. Unlike Deutsche Bank, which often expects its traders to work their notice periods, Goldman traders are sent on gardening leave when they disclose an intention to join a competitor.
In other moves, Lasse Holbøll Westh Nielsen, a former executive director-level macro economist at Goldman just joined hedge fund DE Shaw in London. Significantly, John Lynch*, who was Goldman's EMEA head of its flagship Marquee product left the bank in August after nearly 19 years in August. Lynch had been at the forefront of the automation of Goldman's sales and trading business. He told Financial News shortly after his promotion into the role last November that he was all about freeing-up salespeople and traders to spend proper time with clients and that good salespeople should relish this while bad ones should be "worried." Now that he's gone maybe they can relax.
Photo by Vicko Mozara on Unsplash
*This article originally called John 'David'. This was wrong. David Lynch has never actually worked for Goldman Sachs.
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