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Leaving Wall Street For Ivory Tower

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Another golden age for Wall Street has passed. Without a doubt, man on Wall Street will continue to beat on toward the glowing green light but their backs are against the tide these days, and the currents are getting strong. Lower leverage, higher capital requirements, tighter credit markets and the near certainty of increased regulations will likely make it harder for Wall Streeters to make the kind of fortunes the street has spun off in recent years.
Not surprisingly, some Wall Street veterans are deciding that the risks and opportunity costs aren't worth the diminished rewards under the new math. This is sparking what Rob Cox of BreakingViews describes as a new trend: leaving Wall Street. He gives examples of two powerful men who have traded in pin-stripes for tweeds. The head of Goldman Sachs asset management, Edward Forst is leaving Goldman to become Harvard University's executive vice-president. Citigroup M&A boss Frank Yeary is reportedly leaving to become vice-chancellor at his alma mater, the University of California at Berkeley.

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[Breaking Views]


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