More Trouble For Goldman’s Prop Trading?

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As if things weren’t rough enough in the proprietary trading wings of Goldman Sachs, we hear now that the brainiacs who man the “special situations” unit are breaking out of their gilded cage. Or maybe being forced out.
Earlier this month, the Wall Street Journal reported that the founder the group, Mark McGoldrick, had left Goldman and was planning on starting his own operation. The story behind the story of his departure is under dispute—Goldman reportedly hinted that McGoldrick had cracked up but many feel that McGoldrick left because Goldman wouldn’t part with enough coin to keep him and his group happy.
Now many of the best and brightest of the special situations group are out looking for new jobs, according to a source familiar with the situation. They’ve polished up their resumes, contacted recruiters and started poking around Wall Street for even more special situations. It’s unclear at this point whether they’ve left Goldman on their own accord or been forced out.
Goldman reports third-quarter earnings on Thursday.

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