Top Paid Goldman Partner Makes Surprise Exit

The transcript discusses the surprising earnings of a Goldman Sachs executive, Montesano, who earned more than his boss, CEO David Solomon, over the past three years. It highlights Montesano's role as head of equities trading in the Americas and his global remit over the Program Trading Desk, a lucrative business known for index rebalancing. The transcript also explores the competitive landscape, market changes, and future outlook for trading desks, noting potential challenges in maintaining past performance levels. Montesano is currently on a career break, with strict non-compete clauses affecting his next steps.

What was surprising about the executive's pay compared to the CEO's?

What role did the executive hold at Goldman Sachs?

How did Goldman Sachs perform in the equities business compared to Morgan Stanley?

What is the Program Trading Desk and why is it significant?

What challenges might the trading division face in the future?