Top Goldman Inflation Trader Said to Be Put on Leave Amid Reviewby
Goldman Sachs Group Inc. placed its head of U.S. inflation trading on leave while reviewing whether transactions he oversaw were booked incorrectly, according to a person briefed on the situation.
Josh Schiffrin went on leave in January and is likely to return once the firm finishes examining the positions, probably soon, the person said, asking not to be identified discussing personnel matters. The review began after some trades appeared to be booked using methods that didn’t comply with company policy, the person said.
A trader who worked with Schiffrin, Igor Cashyn, has resigned, the person said, without indicating the reason.
Tiffany Galvin, a spokeswoman for the New York-based bank, declined to comment, and Schiffrin and Cashyn didn’t respond to messages seeking comment. The Wall Street Journal reported the review earlier Wednesday, noting that Cashyn declined to comment when it reached him.
Inflation traders buy and sell bonds linked to inflation, such as Treasury Inflation-Protected Securities, and other derivatives such as options.