Goldman Asia prime brokerage staff exit amid lower pay

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

The departures include Alain Bordoni, who was a managing director, and Mark Wittet, who was an executive director, reports Bloomberg. Most of the vacated positions have been filled with internal transfers or new hires, according to a source. The exits come as Goldman boss Lloyd Blankfein trimmed compensation to just 37% of revenue in 2013, the 2nd-lowest ratio since the company came public in 1999.

Goldman (GS) is ranked as Asia's largest prime broker, with AsiaHedge estimating it had 179 mandates and $24.6B of assets one year ago.