The unit falls under the purview of Michael Lubinsky, the global head of macro trading. He's running the business in tandem with Barclays veteran James Hassett, who is based in London. Goldman Sachs Group is winding down its Global Macro Proprietary Trading desk to comply with the Volcker rule curbing the ability of banks to take risks with their own capital. Taendler started at the firm last week as cohead of global emerging markets and G10 linear FX, the sources said. The British lender has hired Chris Taendler, a recently retired Goldman veteran who helped run its emerging markets foreign-exchange business until last year, to lead a similar remit in Barclays' New York City office, according to two sources familiar with the appointment. Visit Business Insider's homepage for more stories.īarclays has hired an ex-Goldman Sachs partner to lead a fixed-income sales and trading unit as it looks to capitalize on momentum from 2019 and boost market share.Roughly 50 Goldman partners have parted ways with the bank since David Solomon took over as CEO in late 2018, more than half exiting from the firm's securities division.Chief Financial Officer James von Moltke said yesterday that the bank's macro desks are seeing a ' trail-off' and that this is contributing to an expected 15-20 decline in second quarter fixed income. Barclays' fixed-income trading division had a strong year in 2019, growing revenues 12% to $4.3 billion. Now, though, Deutsche's macro desk - which includes assorted traders added from the likes of Goldman Sachs and Morgan Stanley - is sputtering.Access the latest views from our product teams on macro strategies and browse insights by key. ![]() Weekly views from senior Goldman Sachs economists and strategists. I hold degrees in Operations Research and Economics from UC Berkeley with high honors.
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