BlueMountain Capital Management, which manages more than $20 billion, named Nicholas Pappas chief executive officer of its European operations.
Pappas joins from Goldman Sachs Group Inc., where he headed leveraged-finance trading and research in Europe, the Middle East and Africa, according to a statement distributed on PR Newswire. Pappas will take over the role from David Rubenstein, who will return to the firm’s New York office as a managing partner and general counsel, the statement said.
Sebastian Howell, a spokesman for Goldman Sachs in London, declined to comment on Pappas’s move.
Before joining Goldman Sachs in 2012, Pappas was co-head of U.S. credit trading at Deutsche Bank AG in New York.
He joins several traders who have left Goldman Sachs this year. Jerry Keefe, who co-headed the distressed-debt trading group at Goldman Sachs, left the bank for hedge fund CarVal Investors LLC, while Ivelina Markova in Europe departed for London-based hedge-fund firm CQS, people familiar with the matter said last month.
Other recent departures from Goldman Sachs include Jeff Psaki, a junk-bond trader, and Jim Joyce, a leveraged-finance salesman. Josh Rubinson, another managing director, left for bond-trading platform TruMid Financial LLC.