People News - Goldman, Morgan Stanley

Jonathan Egol, a Goldman Sachs trader whose desk produced the security that prompted the Securities and Exchange Commission to sue the firm, has retired.

Bloomberg News reports that Egol, 44, left the firm earlier this year, said Michael DuVally, a company spokesman. He joined the firm in 1998 and was named a managing director in 2007.

Goldman Sachs paid a then-record $550m in 2010 to settle an SEC suit over the marketing of a synthetic collateralized debt obligation dubbed Abacus 2007-AC1. The firm created a committee that year to review its business standards and practices.

In the meantime, Bloomberg also reports that Morgan Stanley appointed Gokul Laroia as Asia-Pacific co-chief executive officer to replace William Strong, who is retiring in May.

Laroia, 47, becomes head of the region excluding Japan with Wei Sun Christianson and will retain his current responsibilities as head of the New York-based firm’s institutional equity and wealth-management business.

Strong, 61, will remain as a senior adviser at the firm.

Goldman Sachs’s Egol Retires After Heading Team That Made Abacus

Morgan Stanley Appoints Gokul Laroia as Asia Pacific Co-CEO


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