GS Commodities Exodus
What is happening on the power trading desk at GS? Saw two VPs leaving for JPM this year and another leaving for infra PE capital markets execution. Also know a strat who left for a SWE position. Is this a function of something Nitin is doing? Not deeply familiar with the internal politics there so insight would be appreciated.
FYI: everyone above was based in NYC. Not knowledgeable about the dynamics in LDN or HTX.
Based on the most helpful WSO content, there isn't specific information in the dataset about the exact reasons behind the departures from the power trading desk at Goldman Sachs (GS). However, there are broader insights into challenges and trends at GS that might provide some context:
Talent Exodus Across GS: There has been a notable trend of senior and mid-level talent leaving GS in recent years. This includes division heads, VPs, and even partners, with many citing dissatisfaction with leadership under David Solomon, reduced compensation, and a perceived decline in the firm's culture and strategic direction.
Internal Politics and Management: While the dataset doesn't mention Nitin specifically, it does highlight that internal politics and management decisions can play a significant role in employee dissatisfaction. For example, trading desks are often described as highly political environments, with power grabs, attribution fights, and other dynamics creating tension.
Shift in GS's Strengths: GS has faced challenges in maintaining its dominance in certain areas, including trading. The firm has been criticized for being slow to adapt to post-GFC changes, losing top talent to hedge funds, private equity, and other firms.
Broader Industry Trends: Movement from trading roles to other areas like infrastructure PE or software engineering (SWE) could also reflect broader industry trends, where professionals seek opportunities in growing sectors or roles with better work-life balance and long-term growth potential.
If you're looking for more specific insights into the power trading desk or Nitin's role, it might be worth exploring recent discussions or reaching out to those with direct experience in that area.
Sources: Goldman Sachs: How To Get ED Executive Director @Global Markets(Sales&Trade) front office?Total Non-Target Play HR D&I Game...It Worked (Real 2022case)...Hope Admin Will Show A Bit Unbiased Understanding Importance Of This Discussion., https://www.wallstreetoasis.com/forum/investment-banking/is-david-solomon-too-big-a-jerk-to-run-goldman-sachs?customgpt=1, GS COO of M&A Leaves for PWP, https://www.wallstreetoasis.com/forum/trading/what-are-the-top-volatility-trading-desks-at-jpm-gs-and-what-differentiates-them?customgpt=1, Goldman CEO DJ Dipshit Fails Again
Bump
One of the heads of Power Trading also left in April/May (Naveen Arora). Heard it was sweaty but could be wrong
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