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Three Asset Management Heads Leave Goldman Sachs

Three of Goldman Sachs' asset management leaders are leaving the firm, CNBC has confirmed. Ray Iwanowski and Mark Carhart ran Goldman's flagship Global Alpha hedge fund and announced their retirement Tuesday.

Goldman Sachs
Goldman Sachs

Giorgio De Santis, Managing Director, is also leaving Goldman according to a person familiar with the matter.

Carhart, 43, was an academic at the University of Southern California whose doctorate work at the University of Chicago focused on mutual-fund performance. Iwanowski was a former classmate from Chicago.

Both men were hired by Goldman in the mid-1990s to work for Global Alpha, which traded assets based on statistical models first developed by a group led by Clifford Asness.

Asness left Goldman to form AQR, Applied Quantitative Research.