FBI detains Russian programmer for stealing secret Goldman Sachs codes

A Russian immigrant living in New Jersey has been accused of trying to steal proprietary computer trading codes from Goldman Sachs.

According to the unnamed sources, Sergey Aleynikov, who worked at Goldman as an IT programmer for two years until last month, allegedly uploaded computer codes that help the firm generate tens of millions in profits each year in automated stock and commodities trading, City News writes.

The firm quickly uncovered the threat, moved swiftly to neutralize it, and informed the proper authorities. The early detection of this incident meant that the damage was contained, and the matter is not regarded as a major threat to Goldman's businesses. Aleynikov is said to be safely in the custody of the FBI.

In the meantime, The Wall Street Journal reports that, according to wealth management consultancy Scorpio Partnership, Bank of America/Merrill Lynch has now overtaken UBS to become the world's biggest wealth manager, with assets of over $1.5 trillion. Citi, Wells Fargo and Credit Suisse round out the top five.