New Goldman chair linked to Rajat Gupta
Goldman Sachs has installed as its first regional chairman in Beijing a banker who set up a business with partners including jailed insider trader Raj Rajarathnam and on-trial former Goldmanite Rajat Gupta.
The bank has hired back Mark Schwartz, who started an investment firm in 2006 with bankers including the two men called Taj Capital Partners Asia. But from having big plans to hire 50 staff and invest $2bn in hedge funds and private equity, the project was scaled back by the end of that year. Goldman said Mr Schwartz left before Taj started trading.
Rajarathnam is now serving time for insider trading and Mr Gupta is on trial for leaking tip-offs to him.
The role was only a minor part of Mr Schwartz's business activities since he first quit Goldman in 2001. His main roles since then have been at George Soros's hedge fund group and at investment firm MissionPoint Capital Partners.
He is to return to Goldman to replace J Michael Evans.
Faced by dwindling growth in Western markets, banks have increasingly been looking to shift their focus to the east.
Mr Schwartz, 57, left Goldman 11 years ago after enjoying a rapid rise through the ranks there since joining in 1979.
South Korea ferry: Vice principal rescued from sinking ship found hanged
Missing Malaysia Airlines Flight MH370: Wreckage could be found within a week as search reaches 'very critical juncture', says minister
Royal Tour 2014: Is the Duchess of Cambridge the only person ever to climb into a fighter jet wearing a dress and high heels?
Kim Jong-un, crowds and contraband: Inside North Korea with the Pyongyang marathon winner
Cover up! Mother told to show less cleavage during Disneyland family trip: 'Are we supposed to wear turtlenecks our whole lives?'
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
'Sinful': Video of British Muslims dancing to Pharrell Williams's hit Happy comes under attack
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Pet cat puts three family members in hospital after launching frenzied attack
- 2 Dylan Tombides: West Ham confirm 20-year-old striker has died after battle with cancer
- 3 24 people applied for the 'world's toughest job', here are their interviews
- 4 Angus Steakhouse: How does tourist staple continue to thrive in today's gourmet market?
- 5 Cover up! Mother told to show less cleavage during Disneyland family trip: 'Are we supposed to wear turtlenecks our whole lives?'
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...