Goldman Sachs' newly special credit guy is in Palm Beach
Now that Avanish Bhavsar is officially leaving Goldman Sachs after 26 years, Goldman's US credit sales team is under new management. Goldman's US credit sales people now report directly into the head of credit: a trader in Palm Beach.
With Bhavsar out, Jason Brauth, Goldman's head of credit flow trading is understood to be managing the entire credit business, including US credit sales. Brauth moved to Palm Beach in September 2021, but hangs out in New York quite often.
Goldman Sachs declined to comment on the new arrangement. Sources said it's been in place since last year, but that Bhavsar's exit has only just been made official. There's understood to be grumbling in the sales team about the new set-up, with some salespeople begrudging their loss of influence and new Floridian trader boss.
It's not clear, however, whether Goldman intends to elevate someone else to fill Bhavsar's seat. Unfortunately, it may be a while before it does - Bhavsar was a Goldman partner and there's not another partner year at the firm until 2024.
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