Aziz McMahon, Managing Director and Head of Emerging Markets Sales, Goldman Sachs, has retired from the bank’s London office. This was preceded by McMahon’s successful investment in Dogecoin cryptocurrency, the rate of which has grown by 15,000% since the beginning of the year.
Neither McMahon nor Goldman Sachs responded to a request for comment, according to eFinancialCareers. However, colleagues confirm his dismissal. The former bank manager is now expected to open his own hedge fund.
How much McMahon could earn on DOGE is not specified in the publication. In his last position at Goldman Sachs, he served for over 14 years. He was not alone in leaving the banking industry for cryptocurrencies. Formerly former quantitative analyst at Bank of America, Louis Zhang has moved to the position of senior software developer at Coinbase.
“Over the past 4-5 years, there has been a steady migration of talented programmers, quantitative traders and executives into the cryptocurrency space. Many are leaving banks, foundations and first-tier trading firms to start their own companies, ”recruiting specialist Kevin Cassata told Business Insider.
Goldman Sachs itself has been opening up more and more to cryptocurrencies lately. The bank recently provided clients with access to bitcoin derivatives and formed its own digital asset trading team.
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