Tom Montag is often regarded as a holdover from a bygone era when aggressive traders dominated Wall Street banks. He is rarely described in the media without the accompanying epithet “hard-charging”, while profiles often stress his brusque manner and imposing frame.
That image is incomplete. The derivatives business Montag helped to build at Goldman Sachs in New York in the 1990s deployed novel trading techniques to outperform much bigger banks. A stint in Japan was also a success and Montag was global co-head of securities at Goldman by the time he left in 2007, before overhauling trading and investment banking at Bank of America after his arrival in 2008 when the firm bought Merrill Lynch.
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