Goldman Sachs hired a JPMorgan equities ED in Hong Kong & may be paying her handsomely
This is a good year to work in Asian equities. It's such a good year that the FT reported this week that banks are redirecting capital towards Asia and are foregoing opportunities elsewhere. As Asian equities trading volumes rise, so does demand for derivatives to hedge Asian markets. And so does demand for people who can sell them.
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Against this backdrop, we understand that Goldman Sachs has poached Elena Su from JPMorgan in Hong Kong. Both Goldman and JPMorgan declined to comment on Su's change of seat. Su, whom we estimate to be in her late 20s, didn't respond to an invitation to confirm it. There are vague suggestions that she may have moved for $500k.
Su is the latest addition to Goldman's Hong Kong equities bench. The US bank hired John Lee from UBS in June. It also hired Leo Kim from SocGen and Jacky Pun from Mizuho, among others.
Insiders suggest Su is a reasonably big deal. She spent nearly seven years at JPMorgan in New York and then Hong Kong and graduated in financial economics from Columbia University. She was a flow and exotic derivatives salesperson for the bank.
Su was not educated in France. As we reported earlier this week, French exotic equities traders have also been the beneficiaries of rising demand in their space.
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