𝐖𝐡𝐚𝐭 𝐢𝐬 𝐡𝐚𝐩𝐩𝐞𝐧𝐢𝐧𝐠 𝐚𝐭 𝐆𝐨𝐥𝐝𝐦𝐚𝐧𝐬? 👀 Goldman Sachs seems to be 𝐡𝐢𝐫𝐢𝐧𝐠 𝐚 𝐥𝐨𝐭 𝐨𝐟 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐜𝐫𝐢𝐦𝐞 𝐭𝐚𝐥𝐞𝐧𝐭 (Vice President / Director) by the looks of my LinkedIn news feed this week. A stark contrast to literally every other bank... 💰Someone please explain (other than they have gold-sachs of money...)? The talent they are swooping up is INSANELY good, like through gritted teeth I am watching the best of the best, top talent going off market 😬. Happy for them, sad for me. C'est la vie. I have theories: 1. 𝐓𝐡𝐞𝐲'𝐫𝐞 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐬𝐭𝐬. 'tis the time to get the top talent who have been made redundant, at competitive rates and not having to compete with anyone else. 2. 𝐓𝐡𝐞𝐲'𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐨 𝐠𝐞𝐭 𝐭𝐡𝐞 𝐛𝐚𝐧𝐤𝐞𝐫𝐬 𝐤𝐢𝐬𝐬 (FCA lookie loo). 3. 𝐈 𝐝𝐨𝐧'𝐭 𝐡𝐚𝐯𝐞 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐨𝐧𝐞... this is the bat signal for those smarter than I to tell me what in the recruiting curve ball is going on
I would say this could well be to do with diversification of products on the back of US election result, and the massive immediate uptick in crypto etc., and ultimately with what that means for other shops, funds and CCPs being set up. Realistically, banks are gong to do what they can to limit their risk in (slightly) murkier waters… guess it depends on the business line credentials of those you’re seeing landing at the bank.
They can't be doing it for the money... Don't much lol it's the tag, once you work there, you get work anywhere lol
Rules and regulation are massively changing with a huge shift towards personal policing. The government are waking up to the economic crime risks and are starting to ask the important questions.
I don’t think hiring financial crime staff is a stark contrast right now - many banks are boosting their teams with mule specialists
The banker's kiss 💀
Is it a tactical read on the market gaps ( probably not) or a hedge for 2025 economic expectations? RTO for the Bay Area perhaps indicative of execs reading the 2025 economic runes?
CBDC and digital asset space, alongside heavier use of commodities and hard assets in the wealth and trusts space…..And the US presidency…..
Data and Technology | Financial Crime, Sanctions, AML & KYC SME | Harvard Business Review Advisory Council member
3wThey could be looking to expand upon their Marcus UK financial offering - shifting into other products beyond savings products, which would require a much larger FC team to be established. They have been experimenting with loans, credit cards for a while - it could be that was the learning phase to see what works for a much bigger offering in the future.