Leaving Goldman Sachs and joining UBS is becoming a theme this year. As we have variously reported, the Swiss bank appears to be rebuilding its fixed income capabilities with salespeople and traders drawn from its U.S. rival.
The latest GS man to move in this direction is thought to be Dmitry Khoroshavtsev, an experienced emerging markets trader. Colleagues say Khoroshavtsev resigned this morning. He’s thought to be joining UBS.
Neither Goldman nor UBS responded to a request to comment.
UBS aside, Khoroshavtsev isn’t the first emerging market trader to leave Goldman this year. Gokhan Buyuksarac quit for Nomura in April. Buyuksarac’s exit followed that of four other traders from Goldman’s emerging markets desk in the previous 18 months. Goldman in turn hired an emerging markets trader from Cantor Fitzgerald in London in May.
The FCA register indicates that Khoroshavtsev joined Goldman in 2013 after a seven year career at Barclays. He’s unlikely to appear at UBS until the fourth quarter due to Goldman’s three month notice period. If and when he does, it could be taken as a sign that UBS is paying guaranteed bonuses to lure people across. – Why else would a trader leave Goldman Sachs halfway through the year?