Goldman Sachs is searching for a couple convertible arbitrage traders for its proprietary trading desk in New York as it continues to rebuild the operation after suffering a slew of departures last year, said officials familiar with the firm's plans. The firm is seeking staffers with between three and five years trading experience, according to an official. Jonathan Knight, managing director who heads up the desk in New York, was traveling and could not be reached. Ed Canaday, spokesman in New York, declined comment.
Approximately half of the firm's convertible arb trading desk walked out last year, with departures including Andrew Barnard, head of the U.S. trading operation, and traders Quincy Evans and Alex Lache (DW, 2/24/02). Lache joined Camden Asset Management while Evans left to help spearhead the launch of a convertible arbitrage trading desk at CDC Ixis Capital Markets. Barnard joined JD Capital Management, a convertible arbitrage hedge fund in Greenwich, Conn. (DW, 1/13).
