Raj Sethi, a managing director in Goldman Sachs Group Inc. (GS)’s commodity-derivatives trading group, quit after 14 years and may join a hedge fund, according to Bloomberg.
Sethi, 35, who once ran the bank’s U.S. power-trading business, left earlier this week, said the person who asked not to be identified because the information is private. Ben Jacobs, a vice president in the commodities group, also quit last week, the person said.
Sethi and Jacobs, who traded the firm’s money as part of their jobs, add to the exodus of proprietary traders who have left New York-based Goldman Sachs and other firms because of new U.S. regulations. The Volcker rule, named for former Federal Reserve Chairman Paul Volcker, seeks to reduce the chance that banks will make risky investments with their own capital and put depositors’ money at risk...
Learn more at http://www.bloomberg.com/news/2012-03-21/goldman-sachs-trader-raj-sethi-said-to-quit-may-join-hedge-fund.html
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