Goldman Hires Ex-BNP Paribas Trader Nicolosi in Asset Management

Paolo Nicolosi, the former co-head of BNP Paribas SA’s proprietary trading business in London, is joining Goldman Sachs Asset Management LP as a managing director in its fixed income and currency unit.

Nicolosi was also previously head of foreign exchange at BNP Paribas’s Opera Trading Capital unit, according to his Linkedin profile. He is joining the New York-based bank in March.

“He is a highly experienced investment professional and will bring further strength and depth to our fixed income and currency team,” Andrew Wilson, chief executive officer of Goldman Sachs Asset Management International and global co-head of fixed income management, said in a statement.

The move is part of a growing trend in the banking industry, with proprietary traders leaving for hedge funds and other asset managers as regulatory changes since the financial crisis force lenders to curtail risk-taking. Goldman Sachs Asset Management oversaw $1 trillion at the end of September, according to its website.

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