Goldman Sachs is still at it. The U.S. bank is still recruiting outsiders to levels just below managing director as it tries to rebuild its under-performing sales and trading businesses.
The latest hires at GS include Wojciech Borzynski and Alexander Askling as executive directors in FICC strats- systemic market making and equity derivative sales respectively, both in London. Meanwhile, Timur Fanshteyn joined as a technology VP in the New York office.
The new recruits come as Goldman seeks to hike revenues by $5bn over the next three years, of which $1bn is expected to come from FICC. Last September, now ex-COO Harvey Schwartz said the bank had doubled external hiring to its fixed income division last year. At the end of the first quarter in 2018, Goldman employed 3,200 more people than at the same point in 2017, an increase of 9%.
Borzynski and Askling have seven and nine years of experience respectively.
Borzynski started his career in 2011 as rates e-trading developer at Credit Suisse before shifting to Barclays as an AVP in risk and analytics in January 2017. Askling spent his entire career at Bank of America Merrill Lynch which he joined in 2009. He was head of Nordic flow sales for the bank, which he quit in March.
Fanshteyn, a former executive director at Morgan Stanley, comes with two decades of experience, but has joined Goldman as a vice president nonetheless. Fanshteyn's earlier stints include eight years as an ED in Morgan Stanley, a year at TD Ameritrade as a senior architect, two years as the associate director for back office development at SAC Capital Advisors and seven years as a principal at Bank of America. He's an expert in distributed, high performance trading applications and therefore precisely the kind of person as it builds its systematic trading capabilities.
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