The former co-head of trading at Goldman Sachs revealed a conversation with Peter Thiel helped trigger his decision to leave the bank

Marty Chavez, Goldman CIO, Martin Chavez, R. Martin Chavez

Marty Chavez, the former top trading chief of Goldman Sachs, said in an interview with Business Insider that a conversation with venture capital Peter Thiel sparked his decision to the leave the bank.
Chavez said the conversation with Thiel was a “galvanizing moment” for his decision to retire from Goldman Sachs and move to Los Angeles.
Thiel is best known for cofounding PayPal and making early an investment in Facebook. He also left Silicon Valley in 2018 to settle in the Los Angeles tech scene.
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Goldman Sachs’ former trading chief said a conversation with famed venture capitalist Peter Thiel triggered his decision to retire from the bank and move to Los Angeles.

“A galvanizing moment for me was in February, actually of last year,” Chavez told Business Insider in an interview. “I was at a gathering in Venice Beach and my friend Peter Thiel, who has a very direct and remarkable way of speaking, stopped me midsentence and said when are you going to stop talking about moving to LA and actually move to LA.”

Thiel is well-known for cofounding PayPal and for making an early investment into Facebook. He also famously moved from Silicon Valley in 2018 to embed himself in the Los Angeles tech scene.

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Chavez told Business Insider that he’d been considering retirement for some time, and was actively talking with mentors and friends about what his next steps should be. Chavez had been searching for something that would help him maintain his priorities, which he said were his children, his job, and his piece of mind.

“It’s just becoming more and more clear to me that to stay consistent with that list I needed a new project,” Chavez said. His next steps now have a new name: “Project Kids, Freedom, and Sunshine.”

Once Chavez arrives in Los Angelos, he plans to take a break for a bit. His only commitment is to teach a class on software in finance next spring at Stanford’s business school. He may also advise some private equity or venture capital firms, he added.

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Source:: Business Insider – Finance

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