[ad_1]
The bearded Chavez looks very different from bald men in tailored suits who, historically, had climbed to the top of Goldman's pile. He joined the firm in 1993 after earning a doctorate in medical information sciences from Stanford. However, he left a few years later and ran a financial software company in which he proposed to make public the salary of each employee. (The idea was shot.)
When he returned to Goldman in 2005, Chavez showed his willingness to be transparent. After the financial crisis, he was responsible for automating his trading activities. The company began sharing its hitherto ultra-secretive trading technology with its customers and, in addition, allowed Chavez to talk to the press about his professional and personal life.
But ultimately, Goldman's employees are judged on the basis of the numbers they produce. Lately, Chavez was not very good. Trading revenue fell $ 800 million in the first half, down 11%. This is a common problem on Wall Street. JPMorgan's trading revenues also declined and Morgan Stanley recorded an even more pronounced decline in its dealings with Goldman. The markets were unusually placid in the first half, although they became more stormy last month as more and more evidence indicated the economy was slowing and the trade war between President Donald Trump and China was was not imminent. The new wave of fear may be enough for Goldman's trading desks and the two Morgans to get busy again. Otherwise, the head of Chavez will be only the first to roll.
[ad_2]
Source link