Goldman Sachs is moving away from a tool championed by its former CFO, as it pushes its traders to see clients where they once saw quick wins

Goldman Sachs is moving away from a practice of judging the profitability of individual trades in favor of a longer-term approach to client relationships, according to CFO Stephen Scherr.   The policy breaks from the one championed by the prior management team and ex-CFO Harvey Schwartz, who touted a tool in November 2014 that gave traders an ability to look at the profitability of each potential trade.  The tool has been blamed for encouraging traders

Continue reading...