Monday, 23rd November 2009

 

Senior private banker quits Goldman in the UK

Goldman Sachs' private wealth management division has parted company with Pernille Dupont Jensen, one of its most senior private bankers in Europe.

Dupont Jensen represented Denmark in badminton at the 1992 Olympics. Renowned for her assertive approach, she later joined Goldman Sachs and earned rapid promotion following the shock decision of Sameer Sain, one of Goldman's top producers, to quit the bank to set up businesses in India in 2006.

She has held several positions at Goldman including co-head of Europe, Middle East and Africa and head of UK.

Other European private bankers have quit Goldman in recent months. Sources close to Goldman have confirmed the departure of Jeremy Singer as well as Duport Jensen. They were unable to comment on the alleged departure of Goldman's French representative Thierry de la Gorce.

Peter Scaturro has just resigned as global head of private wealth management at Goldman Sachs. Dupont Jensen's immediate superior Christopher French remains head of Goldman's international wealth division following the resignation of his co-head Doug Grip early this year.

Goldman is perceived to have punched below its weight in international wealth management for years. The situation is not helped by challenging circumstances in the capital markets, which have made it more difficult for banks like Goldman to develop successful products, although the bank is determined to get the business back on track.

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

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