Goldman hired a VP from Deutsche as its juniors quit for private equity
If you're going to leave an investment bank for a job in private equity this year, now's the time. With junior bonuses at most banks now paid in January, private equity funds are aware that analysts and associates are free to move. The junior bankers are responding to their call.
"There’s a record amount of dry powder in European private equity, and that needs to be spent," says Logan Naidu, founder and chief executive of London recruitment firm Dartmouth Partners. "Both our private equity desk and the market as a whole are exceptionally busy.”
Goldman Sachs is not immune to the lure of private equity. Various of its junior bankers have quit in the past couple of months. They include: Francesco Sampone, a former associate in Goldman's Financial Institutions Group (FIG), who left for a division of Bain Capital in March; Philip Aarhus, a former analyst in Goldman's consumer, retail, healthcare and real estate group, who joined Swedish private equity fund EQT Partners this month; and Shaun Dunlop, a former trading desk analyst in Goldman's fundamental strategy group, who's just joined the London office of Summit Partners, a Boston-based "growth equity fund".
Goldman didn't immediately respond to a request to comment. However, the firm appears to be hiring to fill the gaps. It's currently advertising for an associate in its London-based consumer, retail, healthcare and real estate group, as well as for an associate in telecoms, media and telecommunications.
The firm has also hired a VP from Deutsche Bank. Anna Wisniewska joined Goldman's FIG Group from Deutsche in February.