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Goldman Sachs rehired a trader who left for BlueCrest. He's returning as an MD

Not everyone enjoys life at a hedge fund. Some who join, expecting big money and big trades, find that they're stuck on diminutive salaries with strict risk limits. Some come back to banking.

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Shawn Tuteja left Goldman Sachs to work for BlueCrest, the former hedge fund-turned family office that's run by Michael Platt. After less than three years at BlueCrest, he's coming home to Goldman.

Sources say that Tuteja, who spent five years at Goldman between 2016 and 2021, is rejoining the firm as a managing director and senior trader in the equity derivatives business. Goldman Sachs declined to comment. 

Tuteja's return follows various exits from Goldman's equities business in recent years. Moran Foreman left in 2021 and is now at Rokos as equities investment officer. Joe Montesano, the head of America's equity and global program trading, left last year.

Intelligence provider Tricumen estimates that banks' revenues from equity derivatives and convertibles trading rose 22% to $11bn in the first quarter of 2024, with Goldman Sachs outperforming rivals like JPMorgan.

It's not unheard of for Goldman Sachs to hire people who left back into bigger roles. In 2018, for example, it re-recruited former executive director and EMEA head of G10 flow trading, Adam Iqbal, as an MD and global head of exotics correlation trading. Iqbal left again four years later and is now a portfolio manager at Capstone Partners instead.

Tuteja's reasons for departing the house of Platt are not clear. BlueCrest is hiring, though: the Financial Times reported recently that it's in "late stage" talks to add 30 new portfolio managers soon.

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Photo by Samuel-Elias Nadler on Unsplash

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AUTHORSarah Butcher Global Editor

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