New titans of Wall Street: How trading firms stole a march on big banks

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Handful of secretive businesses including Jane Street and Citadel Securities have seized market share from the old guard

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Joshua Franklin in New York and Costas Mourselas in London

In Manhattan, Goldman Sachs and Jane Street are separated by a street, a century, and a 160 per cent average pay gap.

Goldman and its rival investment banks were once the titans of trading. Now it is Jane Street that paid an average of over $900,000 per employee last year to Goldman’s $340,000, according to FT calculations.

The upstart, founded at the turn of the millennium, is among a handful

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