Goldman Sachs loses two MDs to credit firms
Goldman Sachs has been losing technologists and traders to hedge funds for some time now, but its latest defectors are to private credit.
Tarik Dalton was an MD and Goldman’s head of leveraged finance research, having joined the bank just two years ago from Silverback Asset Management. He joins Kennedy Lewis Investment Management, a private creditor manager. He’ll be based in Miami for the firm.
P.J. Collins spent 7 years with Goldman and joins AB CarVal, a credit-focused investment manager that was initially founded in 1987 by Cargill, the agricultural company – although the firm is now employee-owned. Collins was an MD in New York at Goldman and will be both at AB CarVal, too.
Any of Goldman’s managing directors could have a target on their back, and it’s not surprising that some are leaving of their own accord. Putting aside their own dissatisfaction with compensation, they are often viewed as unnecessarily expensive as the market is in a downturn.
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