Josh Schiffrin, Goldman Sachs Group Inc.’ world head of buying and selling technique, was promoted to chief technique officer and head of economic danger for world banking and markets on the agency, in line with a memo seen by Bloomberg.
The brand new function is an extension of his present duties, which is able to now embrace overseeing the monetary danger crew, FICC desk and prime danger strats crew — the place he’ll present danger evaluation for Goldman’s prime brokerage purchasers — and the technique, investments and partnerships crew.
“In addition, Josh will partner with our businesses to ensure we have diligent supervision of our trading activities and a strong control environment,” Ashok Varadhan and Dan Dees, Goldman’s co-heads of worldwide banking and markets, wrote in a memo dated Sept. 17.
Schiffrin joined Goldman in 2001 as an analyst, and was named managing director in 2009 and accomplice in 2012. In November 2023 he turned the worldwide head of buying and selling technique.
His latest name on the scale of Federal Reserve’s rate of interest minimize proved to be right and he’s not ruling out two extra 50 foundation cuts.
“The employment data will lead the path of policy. The path of 50/50/50 is possible if labor remains weak and unemployment rate ticks up,” Schiffrin stated on a shopper webinar forward of the Fed’s fee determination on Sept. 18.
“We are in unique times, the landscape has shifted very quickly,” he stated then.
(Provides Schiffrin’s quote in final paragraph. An earlier model of the story was corrected to make clear Schiffrin was named chief technique officer and head of economic danger for world banking and markets division.)
