Call it a novel way of making it to managing director, or part of the broader trend of traders quitting hedge funds for investment banks, but Goldman Sachs has just re-hired a top quant who has spent the past four years on the buy-side.
Kevin Miu has just joined Goldman Sachs as a managing director in New York after close to four years working as a partner and head of research at QTrade Capital, a quantitative-driven market maker. This is Miu’s second stint at Goldman Sachs, having previously worked as a vice president in quant cash trading for four years from 2009.
Goldman is reputed to value loyalty among its employees, so leaving for a new venture is generally considered a way of severing ties with the firm. More recently, however, the bank appears to have softened this stance and has re-hired former staff who have moved elsewhere.
A recent example is Scott Weinstein, who spent over 20 years at Goldman Sachs in various senior quant and technology roles within its commodities division before leaving for J.P. Morgan in 2009. Weinstein was head of electronic trading for J.P. Morgan’s commodities business, as well as spending a stint leading its quantitative research division for commodities. He returned to Goldman Sachs as a managing director in operations engineering securities in May.