Pierre-Henri Flamand, the head of Goldman’s (GS) largest internal hedge fund, is leaving Wall Street’s dominant firm to start his own hedge fund, several Bloomberg sources have confirmed.
Flamand, a 15-year veteran of Goldman Sachs, has run the firm’s Principal Strategies fund from London since 2007. The fund posted losses in 2008 but performed well last year to fuel Goldman’s 7% gain in equity revenues to nearly $10 billion in 2009, according to co’s. annual report.
It is unknown if the 39 year old Flamand will launch his hedge fund in London or elsewhere.
Before 2007, Flamand was head of Goldman Sachs Principal Strategies in Europe from 2002.