Driss Ben-Brahim
Encyclopedia
Driss Ben-Brahim is a Moroccan-Austrian proprietary trader, employed by London-based GLG Partners, since 2008.
and INSEAD
.
He worked at the European Bank for Reconstruction and Development
.
He was a former partner and head of Goldman Sachs
trading, based in London
, England
.
He was the "toast of the City of London
" in 2003 when he received what was then the largest bonus in the City's history — £30M.
In 2006, he was reported to have been paid a record £50m bonus as the head of the proprietary trading
desk at Goldman Sachs in London.
It is reported to be the largest ever bonus in the city, and one newspaper, London Lite
, commented that this is 2,000 times more than the average UK wage. However, Goldman Sachs denied the amount of the bonus.
In 2009, at an investor meeting, he said that bank shares had value only as options: “The governments are just filling a hole in the ground by putting money into banks.”
Career
Ben-Brahim was educated at the École centrale ParisÉcole Centrale Paris
École Centrale Paris is a French university-level institution in the field of engineering. It is also known by its original name École centrale des arts et manufactures, or ECP. Founded in 1829, it is one of the oldest and most prestigious engineering schools in France and has the special status...
and INSEAD
INSEAD
INSEAD is an international graduate business school and research institution. It has campuses in Europe , Asia , and the Middle East , as well as a research center in Israel...
.
He worked at the European Bank for Reconstruction and Development
European Bank for Reconstruction and Development
Founded in 1991, the European Bank for Reconstruction and Development uses the tools of investment to help build market economies and democracies in 30 countries from central Europe to central Asia. Its mission was to support the formerly communist countries in the process of establishing their...
.
He was a former partner and head of Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
trading, based in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
.
He was the "toast of the City of London
City of London
The City of London is a small area within Greater London, England. It is the historic core of London around which the modern conurbation grew and has held city status since time immemorial. The City’s boundaries have remained almost unchanged since the Middle Ages, and it is now only a tiny part of...
" in 2003 when he received what was then the largest bonus in the City's history — £30M.
In 2006, he was reported to have been paid a record £50m bonus as the head of the proprietary trading
Proprietary trading
Proprietary trading occurs when a firm trades stocks, bonds, currencies, commodities, their derivatives, or other financial instruments, with the firm's own money as opposed to its customers' money, so as to make a profit for itself...
desk at Goldman Sachs in London.
It is reported to be the largest ever bonus in the city, and one newspaper, London Lite
London Lite
London Lite was the trading name of a British free daily newspaper, published by Associated Newspapers , and now defunct. It was available Monday to Friday afternoons and evenings from street distributors in Central London only...
, commented that this is 2,000 times more than the average UK wage. However, Goldman Sachs denied the amount of the bonus.
In 2009, at an investor meeting, he said that bank shares had value only as options: “The governments are just filling a hole in the ground by putting money into banks.”