13 February 2018

Goldman Sachs hired a top U.S. sales trader from Deutsche Bank

Goldman Sach has brought onboard a top U.S. sales trader as it looks to strengthen its equities sales and trading business.

Mark Hibbert, co-head of U.S. sales trading and the head of U.S. special situations at Deutsche for the last four and a half years, has joined Goldman Sach as a managing director in New York.

Hibbert comes with 13 years of experience. He started his investment banking career with UBS as a managing director and head of U.S. special situations in 2004, according to his LinkedIn profile, and remained there for nine years before moving on to Deutsche Bank as a managing director. Although he graduated as a Bachelor of Science from Providence College, he changed his field to finance later on.

Hibbert moved to Goldman before Deutsche Bank’s bonuses are paid, suggesting Goldman compensated him for the loss of his bonus at Deutsche.

Hibbert’s appointment is in line with Goldman’s focus on lateral hiring at senior levels, as it attempts to turn itself around. During a presentation in September 2017, co-COO Harvey Schwartz said the bank had doubled its lateral hiring in the year to date. Last month, the firm hired three more managing directors and an executive director.

Hibbert’s move to Goldman from Deutsche comes after Deutsche Bank itself recruited former Goldman Sachs partner Peter Selman to help build its equities business. Hibbert isn’t the only senior Deutsche U.S. equities professional to leave before bonuses: as we reported last week, David Liberatore, a popular U.S. sales trader, also left the bank.