
"Goldman Sachs Group Inc.'s chief credit strategist Lotfi Karoui is leaving the Wall Street bank after 18 years, according to an internal memo reviewed by Bloomberg. Karoui, who was also the head of credit, mortgages and structured products research, was named chief credit strategist in 2017 and was among 95 executives promoted to partnership in November. His departure comes as Goldman Sachs's chief US equity strategist, David Kostin, is set to retire from the bank at the end of the year, Bloomberg reported last month."
"Prior to joining Goldman, Karoui taught undergraduate and graduate level courses in finance and operations research at McGill University and HEC Montreal, where he earned his PhD in financial economics and a masters in financial engineering respectively, according to his profile on Arab Bankers Association of North America website. He is chairman of that organization. Karoui was born and raised in Tunisia, according to ABANA."
"In one of his latest notes, the strategist downgraded European investment-grade bonds from banks to underweight from neutral, saying sovereign fiscal risk - most notably in France - poses more downside risk to the banking sector."
Lotfi Karoui is leaving Goldman Sachs after 18 years. He served as chief credit strategist and head of credit, mortgages and structured products research. He became chief credit strategist in 2017 and was promoted to partnership among 95 executives in November. He joined Goldman in 2007 as an associate in credit strategy research and became a managing director in 2015. A Goldman representative confirmed the departure; Karoui did not respond to requests for comment. He previously taught finance and operations research, earned a PhD in financial economics and a master's in financial engineering, chairs the Arab Bankers Association of North America, and was born in Tunisia. He downgraded European bank investment-grade bonds citing sovereign fiscal risk in France.
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