He's only leaving because he's already made a lot of money planning to spend more time with his wife and five children. He plans to, "remain close" to the firm, and will remain as vice chairman of the Goldman Sachs Foundation and GS Gives. After so gushing a valediction we assume they will be pleased to have him around. Meanwhile: There is wealth management recruitment in London. RBC Wealth Management, Coutts, Mirabaud, Vestra Wealth, and Banque Havilland are all hiring. (Financial News) Morgan Stanley has named Salvatore Orlacchio, who relocated from New York last year, its new head of fixed income sales. (Bloomberg) Now high frequency traders like Getco and IMC are cutting jobs too. (Financial Times) A Conservative MEP and member of the European Parliament's Economic and Monetary Affairs Committee, says the 1:1 bonus: salary rule isn't a done deal and there's a lot of sympathy for allowing shareholders to stipulate pay structures.