Goldman Sachs MD left for an electronic bond trading platform

Paris Pender has left Goldman Sachs and joined Trumid, the electronic bond trading platform.

Pender, who was Goldman's global head of credit trading strats, spent 11 years at Goldman Sachs and was promoted to managing director (MD) in 2017, joined Trumid this month, according to his LinkedIn profile. He will be head of data products for the company.

Trumid was founded in 2014 to create a new electronic marketplace for credit and bond trading. Backed by Deutsche Boerse, George Soros and Peter Thiel among others, it purchased rival trading platform Electronifie last year.

Pender is far from being the only ex-Goldmanite to join the firm. Ravi Singh, the former head of Goldman's prime brokerage business, joined as president in 2015 before leaving two years later. Ex-Goldman trader Amar Kuchinad founded Electronifie and was chief strategy officer at Trumid until June 2019, and Josh Herman, Trumid's chief operating officer, spent seven years at Goldman as a credit trader in a former life.

Pender's arrival at Trumid comes as the firm says it's hiring and is advertising 10 open vacancies at its office in New York.

Pender's exit from Goldman Sachs comes as eyebrows are being raised at the speed of senior staff turnover as David Solomon stamps his authority on the firm. Earlier this week it emerged that Arun Dhar, a partner in Goldman's London equities business, left despite being promoted to PMD last November. Dhar is expected to arrive in a new role early next year.

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