Ex-Goldman Trader McGoldrick Plans $5B Hedge Fund

Sep 8 2008 | 10:00am ET

A former star trader for Goldman Sachs who quit because he found his $70 million annual salary wanting is going into business for himself.

Mark McGoldrick, who helped set up Goldman’s highly-profitable special-situations group, earning him the nickname “Goldfinger,” plans to set up a special situations hedge fund. He has even retained his old firm to help him raise $5 billion for it, The Telegraph reports.

McGoldrick’s new fund is expected to attempt to profit from the global equities market volatility, buying up companies and assets that have seen their values collapse.

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