Goldman Taps Rofey to Head U.S. Rates Amid Trader Turnover

Updated on
  • Rofey to report to Pantazopoulos, global rates products head
  • Former top U.S. inflation trader Schiffrin is back from leave

Goldman Sachs Group Inc. has promoted Scott Rofey to head its U.S. interest-rates business amid personnel turnover in that group.

Rofey, who was named partner in 2012, will lead the U.S. interest-rate products trading group, according to a March memo from Kostas Pantazopoulos, global head of interest-rate products, obtained by Bloomberg News. Rofey was previously head of U.S. interest-rate swap derivatives trading, according to the memo, the contents of which were confirmed by Michael DuVally, a spokesman for the New York-based bank.

Rofey will be based in New York and will report to Pantazopoulos. Peeyush Misra, the bank’s former head of U.S. interest-rates trading, decided to leave the bank last month.

The changes come in the midst of other personnel shifts on Goldman Sachs’s interest-rates team. Former head of U.S. inflation trading Josh Schiffrin is back from leave, DuVally confirmed, but not in a managerial role. He went on leave in January as the bank reviewed whether transactions he oversaw were booked incorrectly. A trader who had worked with Schiffrin resigned, a person familiar with the situation said last month, without indicating the reason.

Brian Friedman will rejoin the bank from Brevan Howard Asset Management’s New York office as head of U.S. interest-rate swaps trading, and is expected to start next month, according to DuVally. Friedman had worked at Goldman Sachs from 2010 to 2013, according to regulatory filings. A Brevan Howard representative declined to comment.

Managing directors David Korpi, head of U.S. dollar interest-rate swap trading, and Kevin Chan, head of the U.S. government-debt trading desk, have decided to leave the firm, DuVally confirmed. Korpi has been with the bank since 2013, and previously spent nine years at Deutsche Bank AG, while Chan had been with Goldman Sachs since 2001, according to regulatory filings.

Chan declined to comment when reached by phone. Korpi didn’t respond to phone and e-mail messages seeking comment.

Wall Street’s bond-trading volume fell 3 percent in the first quarter from a year earlier, although Treasuries turnover rose 1 percent, according to Federal Reserve data analyzed by Bloomberg Intelligence. The figures cover the 22 firms that trade with the Federal Reserve, including Goldman Sachs.