Hong Kong bankers would struggle to live in Singapore

Posted by PSR_AXP 56 days ago

There can’t be many things more painful for a top banker than to be made co-head of something, and then to find that the CEO has formed a special committee of all the top managers, and the other co-head is on it, but you aren’t. It would almost be better to have never been co-head at all than to be certified as “second among equals”.

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Goldman Sachs seems to have handed out not one but two of these psychic gut punches. Stephan Feldegoise (co-head of M&A) and Anthony Gutman (co-head of European investment banking) are on David Solomon’s new investment banking operating committee, but Mark Sorrell (M&A) and Gonzalo Garcia (European investment banking) aren’t. Now, according to “people familiar with the matter”, both neglected men have threatened to leave.

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