So what’s going on at Goldman Sachs?

The gilded bank has announced that two partners in the securities division are leaving the firm after long careers. David Heller and Edward Eisler, two of four co-heads of securities trading at Goldman Sachs, spent 22 and 18 years rising to the pinnacle of the firm.

DealBook  notes that the departure of two divisional heads in one day is unusual, especially after Edward Forst, a head of asset management and member of Goldman’s management committee, left the firm not too long ago. Dealbook also noted that since October, more than 30 partners have left the company.

Many will be tempted to read a lot into this. The really big issue is CEO Lloyd Blankfein. Some might be tempted to conclude that this is a subtle vote of no-confidence. But that might be a stretch.

"In the years since the credit crisis, Goldman has become a symbol of excess and has been criticized by politicians and protesters alike. The spotlight has dragged down morale inside Goldman and has weighed on a number of the partners who have recently left,” according to the article. “Some partners wanted to leave Goldman during the financial crisis but felt uncomfortable doing so, resulting in a rush of willing retirements now."

What’s more, the money’s not as good as it used to be, and some partners may want to spare themselves the likelihood of getting culled anyway. Still, the firm seems to be at a crossroads. You get the feeling that big changes are in the works.

For more:
- here’s the article

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