Goldman Sachs said to lose one of its most senior rates traders in Europe

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Goldman Sachs is understood to have parted company with one of its most senior European rates traders.

Insiders say Simon Kingsbury, head of European interest-rate swaps trading, left the bank today. It's not clear where he's going next.

Goldman didn't immediately respond to a request to comment on Kingsbury's departure. Kingsbury joined Goldman in 2004. He was promoted to MD in 2012 and partner in 2016. One of our list of top Goldman fixed income traders in Europe in 2016, headhunters said he'd been making money at the bank for a long time. Kingsbury is understood to have been one of Goldman's biggest risk takers.

His exit comes as Goldman tries to revitalize its fixed income currencies and commodities business after a miserable 2017. Banking analysts at KBW predict FICC revenues at Goldman will rise 30% year on year in the first quarter.

However, Kingsbury isn't the first London-based macro trader to leave Goldman this year. As we reported last week, Sebastien Angles-Dauriac, a senior structurer in the macro division is also understood to have quit, along with Stanley Sheriff, one of Goldman’s top junior macro traders and Seb Fassam, a junior swaps trader.

The latest Goldman exits follow a succession of senior-level departures from Goldman's FICC business in the past few years. As Goldman seeks to rebuild by hiring in executive director-level talent externally, some are suggesting it would do better to try hanging onto the talent it's already got.

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