People may be leaving Goldman Sachs after bonuses, but they are joining too. One of Goldman’s newest hires in London has returned from a sojourn in a hedge fund.
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Antonio Belgioioso spent four years at Brevan Howard, which he joined 2020. There, he was a macro rates portfolio manager. At Goldman, he’ll be a rates trader.
Belgioioso’s arrival comes after several people left Goldman’s European rates team for hedge funds over the Christmas period. Pushkar Jha, Goldman’s London head of inflation trading, Urvashi Chahal, a VP-level rates trader, and Shahil Ghelani a European rates trader who was based in Paris are thought to have gone to DE Shaw, Millennium and Nomura respectively.
Goldman said its rates trading revenues in the fourth quarter of 2023 were ” significantly lower” than one year earlier. Other banks complained of a similar decline. However, one macro headhunter said rates hiring is still “crazy” with hedge funds chasing talent. Brevan Howard itself hired 300 people between February and October last year. Morgan Stanley hired Nick Hall from Deutsche Bank to run GBP rates trading in London in December.
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