The Goldman Sachs MDs still moving to fintechs
Think bankers want to steer clear of the fintech industry after a rough couple of months? Think again. Goldman Sachs managing directors are still migrating across. Although crypto careers aren't as desirable as they used to be, jobs in neo-banking and payments services are still very hot property.
Revolut, the app-based bank is latest to recruit from GS. Last month, Revolut added Paolo Re, a former managing director in Goldman's financing group as its head of financial institutions. Re will build out Revolut's treasury function. He spent 16 years working for GS in London.
Payments processing company Stripe has also been pulling in all the senior Goldman talent it can get.
In August, for example, Vladmir Zhukov, a Goldman MD and the firm's head of data science and machine learning to become head of growth and core data for the fintech. In May, another MD, Rhett Brewer, Goldman's former co-head of treasury quantitative analytics and engineering, joined Stripe as head of risk and financial strategy data science. Matt Leisen, another ex-Goldman MD in liquidity risk analytics, joined in May too.
In combination, Leisen, Brewer and Zhukov had over three decades experience at Goldman. Jeff Gowen, a former investment banking MD at Goldman who joined Stripe to manage partnerships in 2021 has just moved to head of treasury and investor relations.
Competition for Goldman staff isn't restricted to London and New York. Revolut is also hiring Goldman talent across Europe with a particular focus on Poland, where it's been poaching from Goldman's Warsaw office. Revolut's hires from GS in Poland include software engineers Luciano Coccia and Michał Jezierski and senior compliance manager Patryk Koston.
While fintechs are hiring from Goldman, they're also cutting. At Stripe for example, 14% of the workforce was removed at the start of November.
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