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Goldman Shuts Boston Bond Effort

Goldman Sachs is closing its Boston fixed-income sales office, according to an internal memo sent today by Jon Winkelried, co-head of fixed income, currencies and commodities in New York.

Goldman Sachs is closing its Boston fixed-income sales office, according to an internal memo sent today by Jon Winkelried, co-head of fixed income, currencies and commodities in New York. The firm is transferring sales coverage of regional accounts from Boston to New York, according to the memo. The relocation affects less than 20 bond sales professionals, the majority of whom will be offered spots in New York, and will allow the sales force to better serve investors by working alongside traders in New York, according to a spokesman. He stresses it is not lessening its commitment to the Boston-area market. "It will give better overall client services out of one office, given the resources," explains one Goldman official. The firm will continue to maintain its High Street office in Boston and merely will be transferring fixed-income sales pros to New York, he stresses.

 

Goldman has maintained a Boston fixed-income sales office since the 1970s, according to one hedge fund manager.  

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