Goldman Sachs may be losing some of its proprietary traders thanks to Volcker rule restrictions on betting the firm's own capital. But the firm is hardly getting out of trading.
In fact, Goldman has recently given mandates to recruiters to seek out quants for its trading operations in both its Quantitative Investment Strategies group and its high frequency trading operations.
These are high-level positions. The QIS job requires a PhD and at least three years of experience in finance. It involves doing quantitative portfolio research for Goldman’s Algorithmic trading desk, which trades currencies, futures and equities. Basically, these are the guys that program the squid’s tentacles.
The other quant position is at Goldman’s designated market-marker arm at the New York Stock Exchange. This is the gang that runs the high-frequency trading ops of Goldman.