The head of Goldman Sachs' mortgage department, Daniel Sparks will leave his post for personal reasons, the company revealed on Friday.

Sparks who headed the team that successfully bet against the subprime mortgage crisis is reportedly leaving 'to do something different.'

Sparks has been at Goldman Sachs for 19 years and is the second executive to depart from the team that reaped benefits from the collapse of the subprime mortgage market, the first being Josh Birnbaum, a trader who left early April to setup his own hedge fund.

Sparks will stay on for a further six months to oversee the smooth transition of his role to the head of U.S. credit trading, Justin Gmelich who is expected to replace him.

Published on April 27, 2008