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News Link • Business/ Commerce

Goldman Trading Co-Heads Quit

• by Tyler Durden

Goldman's Pablo Salame and Isabelle Ealet, two of the three co-heads of the securities trading division, will leave the bank next month, Bloomberg reported citing a letter from CEO Lloyd Blankfein, who is also reportedly on his way out.

The departures mean that Ashok Varadhan will run the trading division singlehandedly, according to an internal memo Monday from Chief Executive Officer Lloyd Blankfein.

Salame, 52, led the trading business since 2008 and was named a vice chairman of the firm in 2016, meanwhile Ealet, 55, rose up through the commodities business and was named partner in 2000. Perhaps they were not enthused to watch as their once proud, FDIC-backed hedge fund has been forced to sell loans to subprime consumers using "Instragram personality" JoJo Fletcher as spokesperson for its home-improvement loans to "build excitement."

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