GoldenTree Hires Goldman Sachs Trader Salem in Mortgage Push
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GoldenTree Asset Management LP, the $15.7 billion hedge fund specializing in corporate credit, hired Goldman Sachs Group Inc. trader Deeb Salem as the firm expands its mortgage-bond team.
Salem started at New York-based GoldenTree this week, Chief Investment Officer Steven Tananbaum said today in an interview. Salem, who left the bank in May, was among the Goldman Sachs traders who handled its bets against subprime mortgages as the debt collapsed in 2007, at one point trying to manipulate prices of derivatives tied to the loans, according to a report last year by a U.S. Senate panel. Salem denied wrongdoing.