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Goldman Makes Play for Quant Funds in Electronic Trading Reboot
Bloomberg | Jan 10
Goldman Sachs Group Inc., once a skeptic of speed for its own sake in equity markets, is doubling down on automated trading. Long a leading destination for hedge funds where humans pick what to trade, Goldman Sachs hasn’t fared as well with quantitative managers, who rely on computer strategies to make buy and sell decisions. Now the Wall Street firm says it’s trying to attract more quant funds with a sales effort aimed at achieving a top-three ranking. Goldman Sachs has a full suite of services to offer quants after upgrading its technology, according to the partners leading the effort, Raj Mahajan and Jeff Nedelman.
Citigroup Parts Ways with Global Head of Listed Ops
FOW.com | Jan 9
Citigroup has parted ways with its global head of listed derivatives operations Patrick Tessier, marking an unusual departure from the US bank that has strengthened its derivatives business in recent years. Citi is one of only a handful of large banks that has maintained its investment in futures.
Goldman Sachs Just Named a New Head of its Giant Tech Division
Business Insider | Jan 9
Goldman Sachs just named a new chief information officer. Elisha Wiesel will take on the role, which is currently held by Marty Chavez, who will become chief financial officer of the global investment bank in April. Wiesel — who is currently chief risk officer for the securities division and global head of securities division desk strategists — will oversee the entire tech division, which is the largest within the firm by headcount, as well as the engineers and strategists embedded in other parts of the firm.