The managing director of the London office of Goldman Sachs is rumored to have left the brokerage firm after making millions on Dogecoin.
According to his LinkedIn profile, Aziz McMahon, Managing Director of Goldman Sachs’ London bureau, spent 14 years at the bank. A Goldman Sachs spokesman confirmed to Fortune that McMahon had resigned, but did not disclose his reasons for leaving.
The eFinancialCareers reported that McMahon left the brokerage firm after making multi-million dollar earnings on Dogecoin, a joke cryptocurrency, which gained 15,000% since the beginning of the year. According to the portal, McMahon plans to create his own hedge fund, but this information also remained unconfirmed.
The growth of the crypto market attracts many highly qualified specialists to it. “There has been a steady migration of talented programmers, quants, traders, and executives into the crypto space over the past four to five years, many of whom have come from elite banks, funds, and trading firms and are starting their own companies,” recruiting specialist Kevin Cassata told Business Insider.
In 2020, the American crypto exchange and one of the world’s largest cryptocurrency trading platforms Coinbase hired a famous Silicon Valley lawyer Paul Grewal, and in 2017, when the crypto market was experiencing a similar rise, Asiff Hirji, a former top manager of Hewlett Packard and TD Ameritrade, joined the Coinbase team.