A new generation of Goldman MDs are quitting for start-ups

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A new generation of Goldman MDs are quitting for start-ups

When we spoke to former Goldman Sachs strat and ex-child prodigy Tom Macura last year, Macura said a strat job at Goldman Sachs was the ideal role for going-on to found your own fintech. It's part of the culture in the GS strats team, said Macura: "You can come into a place like Goldman and develop your skills and network before taking your career to a different dimension."

Accordingly, Majid Sebti, a Goldman London MD and former global head of Global Head of Foreign Exchange Content Strats, is understood to have resigned last week for a new role as co-founder of Excerp, a media-related start-up. Excerp's co-founders also have Goldman backgrounds: Alfred Mallol, a former Goldman derivatives trader, is one; Joan Cots Carrasquer, a software engineer who's done stints at both Goldman and JPMorgan, is another. 

Excerp's business model is unclear and sources say it's still in "stealth mode." Sebti's arrival looks like a vote of confidence in the new firm. He was at Goldman for nearly 13 years and was promoted to MD in 2018. Excerp is understood to have been funded by the founders so far, but may be opening an external funding round soon.

Sebti isn't the only person to exit GS for something different. Olivier Herbout, a VP in the quantitative investment strategies unit of Goldman Sachs asset management in New York left in January to found Ramify, a Paris-based wealth management platform. Andrew Pinnington, an executive director and head of EMEA derivatives reporting at Goldman announced today that he's leaving for Quorsus, a financial markets consulting firm.

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Photo by Kevin Wang on Unsplash

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