The Real Deal Miami

Meet “Fabulous Fab”: the Goldman trader behind now-infamous negative housing bets

April 19, 2010 02:43PM

Fabrice Tourre, the French bond trader named in the Securities and Exchange Commission’s case against Goldman Sachs, lived a lavish lifestyle in a roughly $4,500-per-month apartment in New York City until 2008 when he moved to London, according to the U.K.’s Daily Mail. Tourre, 31, who was “known for his expensive tastes at Goldman Sachs,” earned more than $2 million a year while selling mortgage investment deals to investors that were destined to fail, while other clients, like billionaire hedge fund manager John Paulson, were simultaneously betting against them. Tourre, who referred to himself as “Fabulous Fab” in a e-mail to a friend cited in the SEC complaint, was also known in his “fashionable block of flats for throwing noisy parties” that irked the neighbors. Tourre was reportedly absent from work today, but Goldman Sachs said it was a “personal decision” and that he had not been suspended by the bank.
[Daily Mail via NY Mag] and [The Guardian]