A Goldman Sachs rates trader just quit for a minor French bank
Rates trading jobs are hot right now and Goldman Sachs is one of the market leaders. Coalition puts Goldman second globally for rates trading, behind J.P. Morgan. Credit Agricole, however, is unranked in the rates business. So, why did a mid-ranking Goldman rates trader just quit for Credit Agricole's CIB?
Mohit Gupta left Goldman in October according to his public profile. He turned up at Credit Agricole this month. Headhunters say he quit Goldman voluntarily after six years at the bank.
Gupta's didn't immediately respond to a request for comment. He joins Credit Agricole as an executive director in European swaps trading - exactly same title he had at Goldman. His motivation for quitting Goldman might have something to do with the fact that he's being tasked with "building and developing" Credit Agricole's European rates franchise, whereas at Goldman he just was just an "important member of the team."
Although Goldman Sachs is at number two globally for rates trading, it ranked outside the top six in Europe in 2015 according to Greenwich Associates. The European market leaders are instead Barclays, Citi and Deutsche Bank. Credit Agricole doesn't rank in Europe either...