Wall Street people moves of the week: Here's our rundown of promotions, exits, and hires at firms like Goldman Sachs, JPMorgan, and Third Point

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  • Eric Lane, co-head of the asset management division at Goldman Sachs and a 25-year veteran of the bank, is leaving the bank, according to a memo viewed by Insider. The news was first reported by Bloomberg. Lane is joining Tiger Global Management as its new president and COO, according to the Financial Times. Lane’s co-leader, Julian Salisbury, will assume sole responsibility for the division.
  • Goldman Sachs has seen a slew of other notable senior exits in recent weeks. Karen Seymour, Goldman’s general counsel, is departing the firm to re-join as a partner at powerhouse law firm Sullivan & Cromwell, as first reported by Bloomberg. In a company memo viewed by Insider, Goldman Sachs CEO David Solomon said Seymour will be replaced by Kathy Ruemmler, Goldman’s head of regulatory affairs, who joined the firm last year.  
  • The nascent consumer business at Goldman Sachs’ Marcus also saw a major shakeup in leadership this week just months after new executives took the helm of the retail bank. Partners Omer Ismail, who headed Marcus, and Adam Stark, who helped launched Goldman’s Apple-branded credit card, are both leaving the bank to join Walmart’s upstart fintech venture, as first reported by Bloomberg.
  • Another executive in Goldman Sachs’ equities business is parting ways with the bank. Jason Matthews, a partner who heads US equities derivatives sales at Goldman, is departing, according to eFinancialCareers.
  • MUFG’s hiring spree continues as it looks to grab market share in the US, particularly within the junk bond markets. The Japanese bank has hired a top Goldman Sachs banker, Ryan Munro, as head of its leveraged finance syndicate in the US, according to an internal memo viewed by Insider.
  • JPMorgan has hired away a top mergers and acquisitions banker from Goldman Sachs to head a newly announced strategic investments M&A group. Managing director Haidee Lee, who’s been at Goldman since 2018, will join JPMorgan and focus on dealmaking within family offices and private equity, according to Bloomberg.
  • Goldman Sachs partner Stephanie Smith is reportedly leaving the bank to join BlackRock. Smith, a longtime Goldman executive who most recently was head of operations for consumer wealth management, has been one of the few Black female partners at the firm. The asset manager had “tried and failed to recruit her about five years earlier,” per a New York Times report on Friday.
  • Amid Goldman Sachs’ raft of recently announced exits, the firm did announce it’s looking to hire around 100 people in Singapore as it builds out its technology team there, Bloomberg reported. The hires will push Goldman’s headcount in Singapore to its largest ever.
  • A leadership shakeup in equity and fixed-income research at JPMorgan will see Marko Kolanovic promoted to chief global markets strategist amid a slew of exits from the bank, according to an internal memo viewed by Insider sent by Jeremy Barnum, head of global research. Noelle Grainger, head of global equity research at JPMorgan, Matt Jozoff, head of fixed income research, and Sunil Garg, head of international equity research, are all leaving the bank.
  • Naureen Hassan, the chief digital officer of Morgan Stanley Wealth Management, is headed to the Federal Reserve Bank of New York, according to a release from the bank. At the Fed, Hassan will assume the role of COO and be the second-highest placed executive at the central bank, where she’ll also sit as an alternate voting member of the Federal Open Market Committee.
  • The co-head of Bank of America’s global oil trading unit is leaving the firm, according to reporting in Reuters. Charles Sussman, a managing director at Bank of America Merrill Lynch, had been with the firm since 2011. 
  • Also at Bank of America, a promotion will see managing director Laura Chepucavage take a seat on the global markets leadership team at the bank, reporting to sales and trading head Jim DeMare. Chepucavage will oversee Bank of America’s global financing and futures desk, according to a company memo seen by Insider.
  • The venture arm of Dan Loeb’s hedge fund Third Point has poached a top tech research analyst from Goldman Sachs, according to reporting in Reuters. Heath Terry, the head of TMT global investment research at Goldman, is joining Third Point Ventures as a managing director reporting to Loeb and longtime Third Point ventures head Robert Schwartz.
  • Holly Snyder Nichols is leaving billionaire Chase Coleman’s Tiger Global, sources tell Insider. Nichols was an analyst at the hedge fund and venture capital manager for more than four years, according to her LinkedIn, and also worked as a consultant for the firm before that. Her resume includes stops at Barclays, Aquiline Capital, Luxor Capital, and Eminence Capital as well. It is unclear where she is heading next; Nichols did not respond to requests for comment, and Tiger Global declined to comment.
  • The asset management division of PNC Bank will have a new chief investment officer come April, per reporting in Pensions & Investments. Amanda Agati, currently the chief investment strategist at PNC, has been with the bank since 2015. She will replace Mark McGlone, who is retiring.
  • Wells Fargo Advisors is reshuffling top leadership and its business divisions, according to Financial Advisor IQ. Wells will focus on adding leadership across major market areas. In October the bank announced it was bringing together its private wealth management and brokerage businesses into one, client-facing unit, Financial Advisor IQ reported. 
  • Evercore Wealth Management has promoted three employees to partner and two to managing director, according to a press release issued by the firm. Ruth Calaman, general counsel and chief compliance officer at Evercore Wealth Management, Howard Cure, the director of municipal bond research, and Ashley Ferriello, a wealth and fiduciary advisor, are all now partners. Paulo Coelho and Jennifer Tse, both wealth and fiduciary advisors, are both now managing directors.
  • Citadel has hired away a top credit trader from Apollo Global Management, according to Bloomberg. Zachariah Barratt, who was the head of corporate credit trading at Apollo, will be a portfolio manager at Citadel in New York and report to head of global credit Pablo Salame.
  • In January, Kim Rosenblum was appointed Betterment’s first chief marketing officer in several years, Insider has reported. Rosenblum spent more than two decades at Viacom, most recently as chief creative officer and head of marketing at Nickelodeon. She left the company in December 2019. Prior to joining Betterment, Rosenblum also served in a leadership position with Women for Biden Harris 2020, from March to December 2020. She joins Betterment CEO Sarah Levy, who joined the robo-advisor in December to replace founder Jon Stein in that post.
  • Financial data startup MX, which last raised money in January from the likes of TPG Growth, has two new business and finance leaders. The company announced that James Dotter, currently MX’s CFO, will now serve as its first chief business officer. Brian Kinion, formerly CFO at Upwork, will also join MX and fill the CFO role Dotter vacated. 

Reed Alexander, Shannen Balogh, Dakin Campbell, Dan DeFrancesco, Meredith Mazzilli, Alex Morell, Bradley Saacks, and Rebecca Ungarino contributed reporting.

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