Goldman Sachs London office managing director Aziz Makmahon has left the firm, allegedly after earning “millions” from Dogecoin’s rise. This was reported by eFinancialCareers, citing informed sources.
According to his LinkedIn profile, Makmahon worked at the bank’s London branch for 14 years.
The publication did not obtain prompt comment from Goldman Sachs or Makmahon, but colleagues confirmed his departure. According to available information, the top executive plans to set up his own hedge fund.
The amount of Aziz Makmahon’s investments has not been disclosed.
Since the start of 2021, Dogecoin has surged more than 9,000% and, at the time of writing, trades around $0.51. The coin ranks fourth by market capitalization on CoinMarketCap.
Makmahon is not the only representative of traditional finance firms that have turned their attention to the crypto market.
Earlier in April, Coinbase hired a former Morgan Stanley Ian Rooney. He led the corporate-compliance department and helped the company prepare for a direct listing of shares.
In May, a former HSBC top executive Jonathan Chisman joined the crypto-derivatives exchange FTX as head of the over-the-counter and institutional sales.
Subscribe to ForkLog news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news, infographics and opinions.