Polo playing trader who owns £12.7m Florida home and is known for his practical jokes is revealed to be stepping down from lucrative role

  • Ed Emerson studied at  London School of Economics and University of Reading
  • Bought mansion at Palm Beach in Florida with wife Natalie for £12.8m last year

A British executive who ran oil and metals trading at Goldman Sachs in the US is retiring after earning an astonishing £80million ($100million) in just three years.

Ed Emerson, who was born in Argentina but has a British passport, has amassed more than the Wall Street investment bank’s own chief executive since 2020.

The 47-year-old studied in England, graduating in psychology from the London School of Economics before doing a finance master’s at the University of Reading.

The keen polo player then joined Goldman Sachs in 1999 as an analyst and climbed the ranks to become managing director in 2008 and partner four years later.

He is married to Natalie and they bought a new mansion in Palm Beach, Florida, for £12.8million ($16million) last year. It is not known whether they have any children.

While he is a private figure, Mr Emerson is known for enjoying practical jokes, having once got up in the middle of the night while on holiday with friends in Costa Rica to scatter fake snakes around their rented accommodation, reported Bloomberg.

Ed Emerson was born in Argentina but has a British passport. He graduated in psychology from the London School of Economics before a finance master’s at the University of Reading

Last year Mr Emerson bought his new home in Palm Beach near Goldman Sachs’ offices in South Florida. The property covers 5,392 square feet and has five bedrooms and six bathrooms. It also comes with deeded access to the beach.

Mr Emerson oversaw the resurgence of the Goldman Sachs communities unit which earned £2.4billion ($3billion) last year.

The division also had revenues of £1.6billion ($2billion) for the prior two years, which saw him earn an estimated £80million ($100million) over three years.

Mr Emerson became one of the highest-paid executives in US banking after earning more in the past three years than Goldman Sachs chief executive David Solomon, who took home £61.9million ($77.5million) over the same period.

Following a 24-year career with the bank, Mr Emerson will officially retire in March next year but is expected to stay on for now as an advisory director to help with the transition, according to the Daily Telegraph.

Ed Emerson and his wife Natalie bought a new mansion in Palm Beach, Florida, for £12.8million ($16million) last year. It is pictured under construction in May 2022

He will be succeeded by Xiao Qin and Nitin Jindal, who will jointly lead the firm’s storied commodities business.

Revenue from Goldman’s commodities business has been significantly lower in the first three quarters of 2023, according to the company’s earnings filings.

But up until that period it had been a bright spot within results in recent years after Mr Emerson turned around its poor performance.

He made the most of volatility in the markets since the pandemic began in 2020 and the surge in energy prices since the Russian invasion of Ukraine in February last year.

Ashok Varadhan, Dan Dees and Jim Esposito, the three leaders of Goldman’s global banking and markets division, paid tribute to Mr Emerson in a memo.

Mr Emerson earned more in the past three years than Goldman Sachs chief executive David Solomon (pictured last month), who took home about £62million over the same period

They said he ‘played a critical role in advancing the firm’s oil business’ and helped ‘cement Goldman Sachs’ position as a leading franchise in commodities’.

Mr Emerson was vocal critic of Mr Solomon within the bank and criticised strategy decisions that saw the bank lose billions of dollars, reported The Times.

He was also said to have told colleagues that he planned to stay involved with the bank and was close with Mr Varadhan and Goldman Sachs president John Waldron.

Mr Qin currently leads commodities trading in Europe, the Middle East, Africa and the Asia Pacific regions, and also runs trading for oil and refined products worldwide. He was promoted to managing director in 2010 and partner in 2016.

Mr Jindal manages commodities trading in the Americas and natural gas and power trading in North America, and he joined Goldman as a partner in 2018.


Denial of responsibility! Elite News is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
DMCA compliant image

Leave a comment