Headhunters have been fielding calls nonstop from Credit Suisse bankers heading for the exits. Credit Suisse bankers: "Get us outta here!" UBS' rescue takeover of Credit Suisse has been a boon to business for one industry: recruiters. Here's everything you need to know ahead of the decision and where the Fed might end up landing.ģ. The announcement, which is always closely watched, is getting extra attention in the wake of the collapse of Silicon Valley Bank. The Federal Reserve is set to announce what it plans to do with interest rates today. Those rules limited the risks banks could take, thus lowering the potential comp bankers could earn. It's an indication of the shifting tides on Wall Street between the firms that traditionally held all the power (big banks) and the ones usurping them (multi-strat hedge funds).Ī big reason for this so-called changing of the guard is the regulations put in place following the 2008 financial crisis. Poaching talent is a longstanding tradition on Wall Street, and the path from the investment banks to the buy side is a well-worn one.īut Alex's story is more than just confirmation that these trends are alive and well. The story has plenty of data on the trend, including charts mapping out top Goldman execs who have made the jump to Izzy Englander's Millennium Management and Ken Griffin's Citadel.
Insider's Alex Morrell has a fascinating look at how Goldman Sachs' top executives have headed to some of the top hedge funds in the world in recent years. Having Goldman on your résumé, especially a senior designation like MD or partner, is arguably the biggest stamp of approval you can get in finance. The bank holds a level of prestige across the Street that trickles down to its employees. There's an old saying on Wall Street: You can only leave Goldman Sachs once. Digital wall street virtual remote work 3 4x3
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