Last year was a partner year for Goldman Sachs, and this usually means that the old guard makes way for new blood by ‘retiring’ from the firm before the promotions are announced. But, now that bonuses have been paid, more senior staff are hanging up their boots.
The latest Goldman partner to retire is Manikandan Natarajan, its London-based global head of FX derivatives trading. He joined Goldman Sachs in 2002, straight after completing an MBA at the Indian Institute of Management, Ahmedabad.
Natarajan was one of 78 people at Goldman Sachs promoted to partner in 2014, having made it to managing director in 2010. The bank promotes a select band of MDs to partner every two years, and announced 84 promotions in November last year.
He’s the latest senior Goldmanite to retire from the firm this year. As we reported in February, Guy Saidenberg, the London-based global head of sales strats and structuring left the bank, which caused the bank to restructure its stats sales team. Meanwhile, Bill Fallon, a managing director and chief investment officer of Goldman’s quantitative global macro division, also retired earlier this month.
Investment banks have been generally trying to ease out expensive senior staff over the past year to make way for relatively junior recruits stuck in the mid-ranks of VP or executive director/director. But most of the employees making way have in their 40s or 50s and close (at least in banking terms) to retirement anyway. Natarajan is in his late 30s, but in the world of juniorisation on the trading floor, this makes him a seasoned veteran.
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