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U.S. Business Goldman Sachs names Jim Esposito co-head of trading division

Goldman Sachs on Monday named Jim Esposito global co-head of the Wall Street bank’s trading division, according to an internal memo seen by Reuters.

Esposito, who will continue to be based in London, will join Ashok Varadhan to lead the fixed income, currency and commodities (FICC) and equities businesses, the bank said.

Prior to the new role, Esposito was co-chief operating officer of Goldman Sachs’ FICC franchise.

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Goldman Sachs’ bond trading business has seen a 45 per cent rise in the recently reported quarter, while its equity trading division lagged rivals JPMorgan Chase & Co, Citigroup Inc and Bank of America Corp, all of which reported gains.

Last month, Goldman had appointed three women to its management committee as part of its strategy to revamp its businesses and diversify senior ranks to regain the bank’s former pre-crisis glory.

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