Goldman partner who allegedly paid £500k to attract girlfriend, retires aged 41
Goldman Sachs' fixed income partners are retiring en mass this year. The latest to leave in London is said to be Yann Samuelides, the 41 year-old Goldman partner who headed the bank's fixed income, currency and commodity (FICC) trading strategy groups in Europe.
Goldman Sachs declined to comment on Samuelides alleged exit, which was highlighted by Goldman insiders and headhunters in London.
Samuelides joined Goldman Sachs as a vice president from Credit Agricole aged 29 in 2004. He then climbed the ranks, making managing director in 2007, aged 32, and partner aged 37.
Unfortunately, Samuelides' professional achievements are eclipsed in the popular imagination by his unorthodox and very public method of wooing his wife. In 2010, Samuelides found himself in a media storm after it was reported that he spent £500k to attract his Slovakian-born partner, Alzbeta Homolkova. Homolkova was reportedly working as an escort girl when Samuelides met her, and was married to a 67 year-old retired businessman, Denis Morley. Morley claimed in court that Samuelides offered Homolkova £500k to come and live with him.
The resulting media furore did little to deflect Samuelides' career at Goldman.
His retirement comes amidst various senior exits from Goldman's FICC business. Financial News reported yesterday that Michael Swenson and Jonathan Meltzer, two other partners in the fixed income trading business, are retiring from the firm. Anne Brennan, a U.S.-based partner in credit sales, has also left.
It's not clear at this stage whether Samuelides is properly retiring or intending to work somewhere else. One London headhunter said his expertise is likely to be in demand elsewhere. Banks like Deutsche are trying to replicate the success of Goldman's 'strats group', and may try encouraging Samuelides out of retirement.
Goldman Sachs' fixed income business had a very bad first quarter, with revenues falling by 47% year-on-year. As a result, the bank is cutting FICC headcount by 10%. Headhunters say the cuts are particularly affecting senior staff: "This isn't just about trimming low performers, this is about cutting costs - and that means removing the senior, expensive people, even if they bring in business."
Photo credit: Diamond Ring by Jeffrey Beall is licensed under CC BY 2.0.