- JPMorgan Chase has poached a top stock salesman from rival Goldman Sachs.
- Jack Johnston is joining the firm as cohead of US equity sales trading, according to people familiar with the matter.
A top Goldman Sachs stock salesman has left the firm, and he's headed to rival JPMorgan Chase, according to people familiar with the matter.
Jack Johnston, a managing director in equity sales at Goldman since 2013, is leaving for JPMorgan, where he will be a managing director and cohead the US equity sales trading business, the people said.
Johnston will cohead the business alongside Benno Green, and they will report to Adam Englander, who coheads Americas execution services with Matt Mallgrave.
A JPMorgan spokesperson declined to comment. A Goldman spokesperson also declined to comment.
It's the second senior defection in Goldman's equities division in the past week. Danielle Johnson, a managing director in the bank's client-relationship-management group, was poached by Credit Suisse to co-run its Americas equities business with Paul Galietto, Bloomberg reported last Friday.
Goldman Sachs reported $7.6 billion in equities revenues in 2018, a 15% increase from 2017. JPMorgan reported $6.9 billion in 2018 equities revenues, a 21% uptick from 2017.
A roughly two-decade Wall Street veteran, Johnston spent about six years at Morgan Stanley before joining Goldman in 2013.
At Morgan Stanley, Johnston was reportedly a top salesman to SAC Capital, billionaire Steve Cohen's old hedge fund before it was shut by regulators and converted to a family office. It isn't clear whether he does business for Cohen's new fund, roughly $13 billion Point72 Asset Management.
Johnston did not immediately respond to requests for comment.
This post has been updated from its original version.
