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Goldman Sachs announced on Monday that securities coheads Isabelle Ealet and Pablo Salame were both retiring from the firm.
Their exits leave Ashok Varadhan as the sole head, and he will be joined in the day-to-day management of the division by five executives, who are likely now vying for the opportunity to join him as a cohead of the business.
Meet the contenders duking it out to run Goldman Sachs’ vaunted sales and trading division.
Elsewhere in Goldman Sachs news, a top banker left for rival Morgan Stanley – but now she’s changed her mind.
And in other finance news, Morgan Stanley is using a Jeopardy game on Amazon’s Alexa to connect with its clients at home. And bonuses are about to soar across Wall Street – and a group left for dead might wind up the biggest winner.
And in markets news:
- An inside look at how Wall Street’s best stock picker fine-tunes his team to perfection – from personality tests to reading networks
- Morgan Stanley just issued an ominous forecast for the rest of 2018 – and it should have traders worried that markets are peaking
- ‘Comfort is not your friend’ – The stock market’s biggest bear explains why the next market crash will be one of the worst ever
- Wall Street is in danger of being ambushed by a powerful force brewing in the US economy, Franklin Templeton says
- Bridgewater, the world’s biggest hedge fund, says a crucial market driver is at 10 o’clock – and forecasts widespread pain once it gets to 12
- Stocks are “coiling for a break higher,” says Credit Suisse