Aren't they kicking off the trading floor to manage their cash, rather than to becoming a hedge fund/investment bank ? I remember reading an article in the rec

Aren't they kicking off the trading floor to manage their cash, rather than to becoming a hedge fund/investment bank ? I remember reading an article in the recent past where they have hired some ex-IB traders (Goldmans, Lehmans, etc) to run their Treasury department. The new hires were due to the fact that they were changing their risk profile of their portfolio. I read they were looking for some bond traders as they're planning on moving towards corporation bonds rather than treasuries/govvies. I need to look for that article.