Scaturro's Fate Up in the Air

One source told TheStreet.com that Scaturro wouldn't be a good cultural fit at Goldman unless he took on a lesser role with an inflated title so that Goldman could benefit from his book of business.

Scatturo, 47, didn't return a message requesting comment that was left with one of his assistants in New York.

Previously, Scaturro was the CEO of Citi's private banking unit until he was reportedly forced out in 2004 amid questions about some of the activities of the firm's Japanese wealth management division.

Mark Lane, of the boutique investment bank William Blair, doesn't think that Goldman would make an external hire to spearhead one of its units, much less a strong profitable division such as wealth management.

"Goldman has a very, very successful high-net-worth private client business, and I'm assuming some pretty strong bench strength," Lane says. "[Hiring] is not an obvious move to me. It's not as if there's some hole to fill."

Scaturro's departures at BofA and Citi have given him the air of an executive who brings a lot to the table for any banking institution, but one who doesn't take direction well.

"With his track record its hard to argue that he should run anything," comments Richard Bove, analyst at Punk Ziegel. "But if you're hiring him to run a division it doesn't make sense."