Will new status spur a talent flight from Goldman and Morgan Stanley?

The move by Goldman, Sachs & Co. and Morgan Stanley to become bank holding companies (and the ensuing regulation) may prompt the top talent from both firms to start looking elsewhere for jobs.

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Both investment banks received approval to transition to the status of traditional banks, giving them permanent access to the Federal Reserve's discount window for emergency borrowing, but it also constrains their businesses by forcing them to carry less leverage and comply with a host of regulations. The move could also start an exodus to private equity firms and hedge funds for top dealmakers looking to ply their trade in places where both the risks and the rewards are greater, according to the San Francisco Business Times. - George White

See story from the San Francisco Business Times

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