Goldman's Asia Prop. Team Hires COO For Hedge Fund

Oct 13 2010 | 12:20pm ET

Goldman Sachs' Asia proprietary trading team has hung out its shingle as an independent hedge fund firm, so to speak: They have hired a chief operating officer.

Roger Denby-Jones has become, in effect, the first employee of the new Hong Kong-based firm, as the traders behind it remain at Goldman Sachs for the time being. But the group, led by Morgan Sze, head of Principal Strategies in Asia, are expected to leave Goldman by the end of the year and launch their hedge fund after the first quarter of next year, Bloomberg News reports.

Denby-Jones joins the new hedge fund from Boyer Allan Investment Management, where he was CEO. Like his future colleagues, he is also a Goldman veteran, having led prime brokerage sales in Europe before joining Boyer Allan in 2005.

Sze's Asia-based Goldman team include more than 10 members. Sze is no doubt buoyed by news that three former Goldman executives, including his predecessor, Pierre-Henri Flamand, have each raised at least US$500 million in advance of their launches next month.

Goldman's New York-based proprietary trading chief, Robert Howard, is in talks with several asset managers, including Avenue Capital Group and the Carlyle Group, about joining those firms and bring his group with him. Other members of Goldman's U.S. prop. desk are expected to be reassigned within the firm.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of