Goldman Sachs's top equities guy in Paris is leaving
Another senior equities professional is leaving Goldman Sachs, this time in Paris.
Olivier Belaich, a managing director and Goldman's head of equities for France, Belgium, and Luxembourg, said this morning that he's leaving and will be, "writing a different story. My story."
Belaich didn't respond to a request on what that story will be.
He spent 15 years with Goldman, of which 11 were in London before he moved to Paris in 2018. Belaich was previously head of equity derivative EMEA hedge fund sales. In an interview in 2021, Belaich said he relocated to Paris to "lead FraBeLux Equities Distribution" and that he "initially felt overwhelmed" before discovering the "magic" of the French capital.
It's not entirely clear why Belaich is moving on, but it doesn't seem related to Goldman's 4,000 job cuts. His exit follows other senior departures in equities, including Canute Dalmasse, the head of equities distribution for APAC, who resigned in March, and Joe Montesano, Sandy Bernhardt and Brant Duber, who left from the New York team in the same month.
Goldman's bonus pool wasn’t the best this year, and managing directors were expected to shoulder a greater burden of the reduction than junior staff.
Belaich should have other opportunities in Paris. Hedge funds' presence in the city is growing, as are US banks. - Citi has been hiring; so has Bank of America. Crédit Agricole has been seen recruiting too.
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