Goldman Sachs hired a JPMorgan sales MD and took him out of London
Goldman Sachs has spent the past decade building out an office in Stockholm, particularly focused on equities trading, following the acquisition of electronic trading firm Pantor in 2015. It expanded its office footprint in 2018 in hopes of tempting London staff to move abroad after Brexit; while that hype has somewhat died down it can still tempt over Scandinavian bankers that are feeling homesick.
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Teemu Hyvonen joined Goldman as a managing director (MD) and head of Nordics equity sales. His role encompasses sales for cash equities, equity derivatives and multi-asset solutions. Hyvonen spent the last 15 years at JPMorgan in London, eight of which were as an MD. There, he led securities services sales for Finland and Norway.
The Stockholm office now seems to operate as both a tech hub and an outpost for its wealth management division, which has been outshining the investment bank as of late. Open roles include an AI data platform engineer in the former and a junior financial analyst in the latter.
Life in the Stockholm office looks different to a banking job in London. The FT reported in 2018 that it has a start-up culture and that employees wear slippers in the office.
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