Until then, Coffey had been known to trade very actively, and would take his screens on holiday. Separately, if you're looking for an exemplar of taking time out of a finance career, coming back, and doing better than ever, Greg Coffey is a good choice.Ĭoffey is the macro hedge fund manager who aged 41 in 2012 said he was stepping down to spend more time with his wife and children. This may also be why, ten years out of Goldman Sachs, Greg Smith is still single and ' looking for the right Jewish woman to settle down with.' 8.30am to 8.00pm is apparently his new norm, and when he's not working he watches a lot of TV. He says he's on a "journey" and that his goal is, " to align who I am with what I do for work." At Moneyworld, Smith says he's all about helping " people who have no savings build savings," something that he says has become more important since the pandemic.ĭespite fusing his personal mission with his mission to pay the mortgage (or maybe because of this), Smith still seems to be working long hours. For Smith himself, the rejection of that culture and that money, is framed in vaguely messianic terms.
Smith says he still knows people at Goldman, who are presumably now earning the sort of money that makes immersion in a toxic vibe seem sort of ok. Marketwatch caught up with Smith, who's now in Chicago, and discovered that like many a defected-banker, he's now working for a fintech, Moneyworld. Smith's revelations were interesting enough, but as people like Geraint Anderson discovered before him, you can only ride for so long on tales of banking debauchery and moral nullification. This included the claim that the London office was particularly corrosive, that it's possible to chat with Goldman partners at the urinals, and that Goldman employees try to ingratiate themselves to partners with a high-pitched "partner laugh." Seven months later, he published a book going into further detail about life at Goldman and his decision to walk away from $500k a year. He may have had a point: this was during the heyday of Tim Leissner, the former Goldman Sachs partner now facing 25 years' prison on fraud charges who confesses to having been a terrible liar.Īfter leaving Goldman and writing all about it in the NYT, Smith doubled down. Clients were treated "callously" and referred to as "muppets" "morally bankrupt people" needed to be weeded out. Goldman was a "toxic and destructive" place to work, said Smith.
10 years ago, the executive director in Goldman's EMEA equity derivatives business left Goldman and wrote an article for the New York Times about why he was going after years working his way up from summer intern and toiling for the firm in London and New York. No one has flounced out of Goldman Sachs in quite so pouty a fashion as Greg Smith.
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