However, Goldman still runs a larger proprietary trading unit called Special Situations Group. How many prop trading desks does Goldman have? It is not easy to answer as one needs to take into account the way lawmakers and regulators define proprietary trading. CLICK HERE TO BUY THE KINDLE VERSION With a proven personal track record of trading experience, John Netto, The Protean Trader, has found great success and. According to analysts, the desk’s assets under management were about 1 to $2 billions Goldman Sachs last august shut down Goldman Sachs Principal Strategies to comply with the Volcker rule. Even though it was smaller and less important than the Principal Strategies desk, Global Macro Proprietary Trading was a carreer booster for several well-known hedge fund managersĭriss Ben-Brahim, who headed the desk before joining london based GLG Partners hedge fund in 2008, was considered as one of the highest paid Goldman’s employee in Europe. Goldman has ran its Global Macro Proprietary Trading for decades.
What will become New York based traders is not clear.
Karl Devine, who headed a team of four people in London and other traders are in talks with london-based hedge fund, including Brevan Howard, said a source familiar with the matter. Out of the eight trader of the desk, some might leave the company. Goldman closes the trading units to comply with the Volcker rule, a provision of the Dodd-Frank financial law that prohibits banks from betting capital for their own accounts.
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