Goldman Sachs's G-10 Foreign Exchange Sales Co-Head Connors Said to Leave
Goldman Sachs Cuts Compensation Pool
Ramin Talaie/Bloomberg
The headquarters building of Goldman Sachs Group Inc. at 200 West Street is reflected in the window of another building in New York.
The headquarters building of Goldman Sachs Group Inc. at 200 West Street is reflected in the window of another building in New York. Photographer: Ramin Talaie/Bloomberg
Goldman Sachs Group Inc.’s Kevin Connors, co-head of global foreign-exchange sales for Group of 10 currencies, is leaving the firm, a person with knowledge of the situation said.
His departure follows a breach of internal compliance procedures, which didn’t involve anyone else, said the person, who declined to be identified because the details are private. A spokeswoman for Goldman Sachs in London declined to comment today. Connors’s mobile phone was turned off. He was named a partner in 2008 and initially joined the bank in 1990. Connors is still listed as “active” on the U.K. Financial Services Authority’s register.
Goldman Sachs is trying to improve its reputation after the U.S. Securities and Exchange Commission sued the firm and employee Fabrice Tourre in April over claims the company misled investors in a collateralized debt obligation linked to subprime mortgages. Goldman Sachs agreed to pay $550 million in July to settle the lawsuit. The FSA also fined the New York-based bank in September for failing to report to U.K. regulators the U.S. investigation that led to the suit. The fine was the second largest levied by the FSA.
Connors’s job involved getting clients to trade with Goldman Sachs. His co-head of global foreign-exchange sales for Group of 10 currencies is Lora Robertson.
Goldman Sachs dismissed Alexandre Harfouche, co-head of the European syndicate, for not following compliance rules a person with knowledge of the matter said in November. The violations involved a failure to make certain disclosures and didn’t break securities laws or harm clients, said the person, who declined to be identified. Harfouche couldn’t be reached for comment through Goldman Sachs at the time and wasn’t listed in the London directory.
To contact the reporters on this story: Ambereen Choudhury in London achoudhury@bloomberg.net; Gavin Finch in London at gfinch@bloomberg.net To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net
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