The London branch of global investment banking giant Goldman Sachs’s Asset Management division now has a new head of FX. As per the statement released by the banking giant, Arnab Nilim an industry veteran with nearly two decades of experience in the finance industry has now been hired by the firm to serve as Managing Director and Head of Currency in the Asset management division. For his new role as Head of FX, Arnab has relocated from New York to London having resigned and cut all professional ties with his previous firm. Arnab’s LinkedIn profile also reflects his appointment at Goldman Sach’s London office which suggests he joined the firm earlier this month.
Prior to his appointment as Head of FX in Goldman Sachs’s Asset management division, Arnab served as SVP & Lead Currency Portfolio Manager at Alliance Bernstein in the New York office for more than 7 years having joined the firm back in March’ 12. Alliance Bernstein is yet another giant in the investment management sector on a global level while also known for its market research capabilities. The firm currently has assets worth nearly USD 500 Billion under management. Before his tenure at Alliance Bernstein, Arnab served as an EM currency/rates derivatives trader and Vice President for Citigroup for more than 7 years in their US office from January 2005 to February 2012. Prior to his long career in the financial sector, Arnab Nilim was a graduate of the University of California, Berkeley where he graduated with a Ph.D. focused on Stochastic Controls and Optimisation.
As per data in his LinkedIn profile, while at the University of California, Berkeley – Arnab was awarded the Leon Chua Award for best research in the field of non-linear science. Nilim’s migration to Goldman Sachs comes at a time when the global FX market is suffering from low volatility issues and geopolitical/economic power struggle. The firm was also severely hit by same as visible from the release of the firm Q4 data which showed that it was the worst Q4 of the decade and also suggested that the firm lost a significant amount of cash during last three months last year via a regulatory disclosure. However, Goldman Sachs is not alone in suffering loss as many other major brokers and trading venues have also reported dovish first-quarter results citing low volatility and lower levels of client activity as the reason for the drop in quarterly statement data.
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