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Goldman Loses its Head

Jon Pierce, the long-serving co-head of EMEA FX spot trading
at Goldman Sachs in London, has left the bank. Goldman declined to comment, but
market sources say that he has decided to retire “to count his money’.

Few will begrudge Pierce’s ability to make such a move. Respected
for his modesty, Pierce started his career many years ago at Bankers Trust in
London. Bankers had an almost fearsome reputation back in the 1980s and early
1990s as a result of its aggressive trading operation.

Meanwhile, Anne Sophie Beotti is believed to have also left
the bank. Beotti was employed in FX hedge fund sales. She previously worked at
Bank of America/Baml. At the time of writing, it was not clear why Beotti left
or if she was headed for pastures new.


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