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Another Goldman Departure Goes Public

April 3, 2012
[ by Melanie Gretchen ] A trend is developing among Goldman Sachs personnel who, upon their resignation from the firm, feel the need to share with the world the reason for their departure.  Perhaps they view it as a public service - i.e., by shedding some sunlight on the inner workings of this most private of companies. On Saturday, an anonymous individual going under the moniker of "trailmix8" posted a missive on his or her decision to leave the "Golden Palace" after 5 years.  Trailmix8's letter was posted on Wall Street Oasis - a popular site for  finance-types - was less flashy than the Op/Ed piece by Greg Smith that appeared in the NYTimes, and certainly will not garner for the writer any literary offers that could garner the writer anything near $1.5 million.  No, the writer was written to the "Monkeys" - the name given to Wall Street Oasis forum users. All told, this writer talked about a positive experience, detailing his work in a middle-office derivatives role with Goldman's asset management unit, leading up to his decision to leave. Trailmix vs. Greg Smith. Out of college, both regarded the firm highly upon joining.  To be fair, Mr. Smith was an executive director and head of the firm’s U.S. equity derivatives business in Europe, the Middle East, and Africa, who was at Goldman for 12 years, during which he grew ashamed to recruit and mentor candidates. In contrast, Trailmix8 was there for 5, when he took the GMAT with the intention of going to B-School and observed that "teamwork and hard work ethic was always a strong part of the firm culture."  Mr. Smith would not agree. Post-Goldman. Similar to their time at Goldman, Trailmix8's future is more humble.  Compared to his upcoming admission to INSEAD business school in the fall, Mr. Smith is looking at a $1.5 million book advance for his tell-all tale.  Nevertheless, it's nice to know not all of Goldman's public departures are parting shots. For further details, go to [Dealbook, 4/2/12].