FX trading co-head retires from Goldman Sachs two years after making partner

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Banking boss won't retire

A Goldman Sachs veteran who helped head up emerging markets FX trading in New York is moving on from the firm just two years after making partner. Chris Taendler, who has worked at Goldman since 1999, has decided to retire, according to sources. An internal memo seen by eFC that was sent by the co-heads of the bank’s securities unit confirmed the move.

Taendler’s official title was a mouthful: co-head of global G10 spot and Americas emerging markets foreign exchange One Delta trading. He made partner in 2016, five years after being named managing director. He started his career at Goldman in 1999 as an analyst within the bank’s private wealth management unit in Miami before joining its fixed income emerging markets team in New York in 2003.

The move comes on the same day of reports that Goldman Sachs is planning to cut back its commodities trading arm, according to the Wall Street Journal. The news didn’t come as a great surprise considering CFO Stephen Scherr noted in January that there was an “active and engaged move to reallocate capital” away from the bank’s fledging fixed income unit and toward other business lines. Sources told eFC that Taendler retired and was not forced out.

Ashok Varadhan, Martin Chavez and Jim Esposito – the three co-heads of bank’s securities unit – thanked Taendler for his two decades of work at Goldman Sachs, including the last two as the co-head of the firm’s Hispanic/Latino network.

Taendler is understood to have been a close protégé of Pablo Salame, the former co-head of Goldman Sachs' securities business, who left in May last year. Taendler and Salame's wives are understood to be sisters. 

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