We don’t know why Kevin Connors, a former Goldman partner and the co-head of FX sales for G10 currencies, abruptly left Goldman Sachs last week, but here’s something that seems like a clue into, if nothing else, (what might be) his character.
(UPDATE: Here’s more on why Connors was fired.)
In a NYPost article from 1998 it says that (at the time, there was an investigation into why Warburg’s managing director) Kevin Connors…
From the NYPost:
“… registered the names “chase-warburg.com” and citiwarburg.com” with the Geneva-based Register.com.”
At the same time that Connors registered the sites (on December 6, 1998), there had been speculation that UBS would sell its investment bank, Warburg Dillon Read, which it had just bought.
From an earlier article in the Express India on October 8th, 1998:
“The Financial Times, in a story that did not name any sources, said UBS was reviewing the role of Warburg Dillon Read ‘in a process that could eventually lead to a sale or partial disposal.””
Most likely, Connors had registered Chase-warburg and Citiwarburg because he suspected that it would sell and that it would sell to one of those two financial firms.
The NYPost called Connors’ registering the domain names “a move notable either for its brazen audacity or breathtaking stupidity.”
Here are more details about what happened back then, from the Post:
[Connors’] comments were prompted by a press report that Chase and Citi were bidding against each other to buy Warburg for as much as $15 billion and the deal could close before the end of the year.
A spokeswoman for the London-based Warburg denied Connors was registering the sites on behalf of the company in case Chase Manhattan or Citigroup bought it from UBS.
“He registered them under his own name, and it was done without authorization being sought or given,” the spokeswoman said.
Of course we’re not sure whether or not the two Kevin Connors mentioned in last week’s and 1998’s story and ThisIsLondon.
Also, “brazen audacity” seems like something that would get someone fired from Goldman. Of course the question still remains … what did Connors do this time?Anyway, moving forward, Connors’ co-head was Lora Robertson, who is still at Goldman and might take over FX sales for G10 currencies.