It seems to us like a Goldman MD just got demoted because of an article in the publication Asset Backed Alert.
Maybe the timing is coincidental, but consider…
Back in March, Asset Backed Alert wrote that investors were freaking out because the CDO prop trading and client trading desks shared one director.
Then ABA reported today that Goldman would no longer CLO prop trade, according to Bloomberg.
So, it’s our interpretation that after Asset-Backed Alert reported that investors were freaking out about Goldman Sachs’ CDO prop trading and client trading desks being directly next to each other, sharing the same director, Jerry Ouderkirk, the firm had to end CLO prop trading, which was run by Ouderkirk, to preserve good PR.
The change is not exactly “demoting” Ouderkirk, but something he used to run no longer exists, so his job definitely changed.
We’ve reached out to Goldman for comment. We’ll update as warranted.
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