The Money Times- A $100 million here, a $100 million there, and pretty soon you’re talking about real compensation. U.K.-based hedge fund manager GLG Partners (NYSE: GLG) announced today that it has hired Goldman Sachs (NYSE: GS) partner Driss Ben-Brahim. In 2006, Ben-Brahim sent the London press into a frenzy when it was reported that he earned a $100 million payday.
With those kinds of numbers being thrown around, leaving Goldman might look like an odd decision, but Ben-Brahim can always point to the man whose shoes he’ll be filling. GLG is losing its highest-profile portfolio manager, Greg Coffey, who is walking away from a $250 million stock payday to launch his own fund.