These senior Goldman Sachs bankers have been jumping to the buy-side
So far this year, senior investment bankers have been leaving Goldman Sachs and, usually, are landing on the buy-side.
The latest example is Roy Schwartz, a managing director who worked at Goldman Sachs for over 16 years. Schwartz has just joined Berkeley Asset Management as a portfolio manager.
Berkeley is a hedge fund focused on non-investment credit and has just a handful of employees in London. It was formed in 2009 by former Millennium Capital Management partner, Ari Epstein, and Mervyn Hughes, who founded hedge fund Belvedere Investment Partners.
Schwartz is not the only Goldman Sachs banker to switch to the buy-side this year, however. David Witkin, an executive director who worked at Goldman for over ten years, has just joined PSP Investments as a senior director in principle debt and credit investments.
PSP Investments is the investment arm of the huge Canadian pension fund, the Public Sector Pension Investment Board, which has $116.8bn in assets under management. Witkin joined Goldman Sachs in July 2006 when he graduated with an MBA from Columbia Business School.
Goldman Sachs has continued to trim senior jobs throughout 2016, and some managing directors have left this year seemingly without a new position to go into.
Peter Lyneham, a managing director and one of the founding members of Goldman Sachs infrastructure investment group, has just left the bank after nearly 18 years. Lyneham joined Goldman Sachs in February 1999 and has worked in various investment banking roles across London and Sydney.
Meanwhile, Patrick Tribolet, a managing director in Goldman Sachs’ real estate investment arm, has left the bank after close to 20 years. He joined Goldman Sachs after completing an MBA at Wharton in April 1997.
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