Goldman Thinks $250M "Junk Bond Whale" Malafronte Hasn't Fallen Afoul of Volcker

Malafronte attracted attention last month when news reports said he generated more than $100 million earlier this year by trading the debt of junk-rated energy firms and retailers. That prompted questions about whether he complied with the Volcker Rule, part of the 2010 Dodd-Frank Act aimed at preventing banks from wagering money in ways that don't benefit clients.

Malafronte's revenue had swelled to about $250 million by the start of last month, according to two of the people with knowledge of the matter. That probably positioned him to rank among the most successful traders this year across all major Wall Street banks, according to market observers and staff at rival firms.