Discover your dream Career
For Recruiters
Another senior trader at Goldman Sachs has departed for the buy-side, joining former colleagues at Gladwyne Investments.

Goldman Sachs MD joins ex-colleagues at distressed debt hedge fund

Manuel Garcia, a managing director at Goldman Sachs, has left the bank to join former colleagues at a distressed debt focused hedge fund.

Garcia, who officially left the US bank last week, signed up as a partner to Gladwyne Investments earlier this month. The credit-focused hedge fund, which has a bias towards distressed debt opportunities, was set up in 2009 by former Goldman Sachs managing director Barend Pennings.

The hedge fund has been successful in persuading former Goldman alumni to join it, despite only employing five people in FCA-registered roles. Edouard Dupont, its COO, worked in operations at the bank until 2006 when he moved across to Lehman Brothers, while Sandro Patti, who joined as an investment analyst from Goldman at the fund’s inception, is now a partner at the firm. Yann Vincent-Genod joined Gladwyne as a member in May, but started his career at Goldman Sachs in 2007.

Garcia spent over 14 years at Goldman Sachs and became a managing director in the class of 2012. He has an AB in Economics from Harvard University.

In the 12 months to the end of March 2014, Galdwyne paid its four members an average of £861.4k, a significant uplift from the £173k shelled out in 2013, according to accounts on Companies House. The highest paid member received £2.83m. This followed a year when operating profits increased to £3.3m, up from £492.4k in 2013.

Elsewhere, it has five staff in administrative roles and it paid them a combined £495.7k.

Goldman Sachs traders have been departing for hedge funds in recent months. Mitesh Parikh, its former head of European spot FX trading, left for the buyside after 12 years at the bank. Earlier this year, Nick Bhuta, Goldman’s head of euro-governments bond trading, left for Tudor Capital.


AUTHORPaul Clarke

Apply for jobs

Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs