Senior bankers are leaving Goldman Sachs
Goldman Sachs may be sending out motivational emails to its junior employees as it rolls out deeper-than-usual cuts this year, but this hasn't stopped people from leaving voluntarily at the senior end.
Edwin Kwok, who was a managing director and quantitative strategist with its strats group, left the bank in late January, according to the UK's Financial Conduct Authority (FCA) Register.
Meanwhile, Hugo Clark – managing director in its equity trading business – left for a senior position at UBS in February. And Tom Boddy, a telecom analyst who is also a managing director at Goldman Sachs, also left earlier this month.
Kwok had been at Goldman Sachs since 2000, having joined from General Re Financial Products, and was promoted to managing director in 2006. He has a PhD in Economics from the University of Cambridge.
Both Clark and Boddy were promoted to MD in 2012. Clark had been at Goldman Sachs since 2010.
Kwok, Clark and Boddy aren't the only recent exits from Goldman.
Alasdair Warren, global co-head of its financial sponsors group, joined Deutsche Bank in November to head up its corporate and investment bank in EMEA, while Matt Arnold, a managing director in its principal strategic investments group, joined Oxford Sciences Innovation – an intellectual property investment spinout from Oxford University, also in November.
Goldman’s latest round of layoffs are due to focus on the fixed income currencies and commodities division – which it has cut by 10% since 2013 anyway – and are likely to hit 250 people. Senior fixed income departures have so far yet to emerge, however.