Goldman Sachs, one of the most profitable banks in the history of Wall Street, figured out a way to monetize relationships with its star traders, even as they left the firm in the wake of the financial crisis. Goldman (along with other big banks) still had to find an opportunity to monetize ex-star traders. So it added its own stars to its own hedge fund platforms, which let Goldman simultaneously earn fees from valuable client relationships and make money from hedge fund managers that were quitting to launch their own funds. But lets step back for a second. Goldman Sachs’ trading desks once fueled massive profits ... (full story)