Exiting Goldman Sachs Traders Are In High Demand
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Price: $1,038.68 -4.94%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +25.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +25.5%
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According to a report from Bloomberg on Wednesday citing two people briefed on the matter, members of Goldman Sachs Group Inc. (NYSE: GS) U.S. principal-strategies group are being targeted by KKR & Co. and Perella Weinberg Partners LP.
One of the sources cited said that Bob Howard, the head of Goldman's proprietary trading group in the U.S., is leading the discussions. The negotiations are in early stages and may still fall apart.
Goldman is currently working to disband its proprietary trading business to comply with the recently passed Dodd-Frank bill, specifically the Volcker Rule that will limit the risks that a bank can take with its own funds.
The Bloomberg report said that Goldman, the most profitable investment bank, plans to allow the 65 to 70 members of its principal-strategies group time to seek new jobs, according to people close to the matter.
KKR Asset Management was started in 2004 and manages about $13 billion. KKR focuses on corporate debt, including trading bank loans and mezzanine debt.
Perella Feinberg, an investment bank founded by Joseph Perella and Peter Feinberg, runs hedge funds including the Xerion Fund. The firm hired the investment team from Tokum Capital Management LP earlier this year.
BlackRock Inc. (NYSE: BLK) has also held talks to hire one or more people from Goldman, according to Bloomberg. BlackRock is the world's largest asset manager.
One of the sources cited said that Bob Howard, the head of Goldman's proprietary trading group in the U.S., is leading the discussions. The negotiations are in early stages and may still fall apart.
Goldman is currently working to disband its proprietary trading business to comply with the recently passed Dodd-Frank bill, specifically the Volcker Rule that will limit the risks that a bank can take with its own funds.
The Bloomberg report said that Goldman, the most profitable investment bank, plans to allow the 65 to 70 members of its principal-strategies group time to seek new jobs, according to people close to the matter.
KKR Asset Management was started in 2004 and manages about $13 billion. KKR focuses on corporate debt, including trading bank loans and mezzanine debt.
Perella Feinberg, an investment bank founded by Joseph Perella and Peter Feinberg, runs hedge funds including the Xerion Fund. The firm hired the investment team from Tokum Capital Management LP earlier this year.
BlackRock Inc. (NYSE: BLK) has also held talks to hire one or more people from Goldman, according to Bloomberg. BlackRock is the world's largest asset manager.
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