A managing director on Goldman Sachs Group Inc.’s Asia currencies trading desk, Jaewon Yu, is leaving the US bank after two decades, according to people familiar with the matter.
(Bloomberg) — A managing director on Goldman Sachs Group Inc.’s Asia currencies trading desk, Jaewon Yu, is leaving the US bank after two decades, according to people familiar with the matter.
He resigned this week, said the people, asking not to be identified as the matter is private. Yu plans to join a Hong Kong-based hedge fund to focus on macro trading, according to one of the people. Yu joined Goldman Sachs in 2003 in Tokyo and became a managing director at the start of 2016.
A Hong Kong spokesperson at the company declined to comment.
Several Goldman Sachs veterans have joined competitors including Wells Fargo & Co. and Banco Santander SA in the past month. Meanwhile, the US bank has also started cutting about 125 managing directors across the globe as deal activity has fallen sharply, Bloomberg reported earlier this week. That’s part of a deep cost-savings drive at Goldman Sachs.
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