Two young prop traders are leaving Goldman’s principal strategies desk in London to launch a hedge fund.The best news for the pair, from Bloomberg:
The pair have secured a $300 million investment from Brummer & Partners, the largest Scandinavian hedge fund.
No word on the name of the fund or whether they’ll stay in London.
Ever since the Volcker Rule was written into the FinReg bill that passed this summer, Goldman traders have been disbanding and making plans of their own.
Morgan Sze is founding a new hedge fund with a few traders in Asia, and around nine others are going to KKR.
Expect more to make plans to leave too, when this is how one of them describes working there: “I watch the world falling apart.”