Goldman Sachs Shakes Up Global Investment Banking Division

Goldman Sachs Group Inc has appointed two veterans, adding Gregg Lemkau and Marc Nachmann as the new Co-Heads of its Global Investment Banking Division, according to a Reuters report.

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The appointments will see the two experienced bankers fill a void at Goldman Sachs, following several internal changes at the lender. In particular, Goldman had previously promoted former banking Co-Head David Solomon as well as Chief Financial Officer (CFO) Harvey Schwartz - Gary Cohn, the group's COO, also parted ways with the group following his appointment to the Trump administration.

Veteran Appointments

In their new roles, Mr. Lemkau and Mr. Nachmann will be serving as joint heads of one of the group’s flagship divisions. They join John Waldron as leaders of its business, maintaining a range of responsibilities including mergers and acquisitions (M&A) activity, and other deals regarding equity and debt underwriting.

Mr. Lemkau is no stranger to Goldman Sachs, having been named Co-Head of Global M&A back in 2013. Additionally, he was previously head of M&A for the group’s European and Asia-Pacific (APAC) Asia-Pacific (APAC) The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or The Asia-Pacific (APAC) region is one of the fastest growing in terms of population. This region in particular is of great importance to the financial services industry, as it is seen as the largest growth market for clients.APAC is comprised of diverse currency markets that are shaped by various and, at times, competing forces, from global regulation to local capital controls.The region has been seen as one of the hardest to enter by FX brokers for this reason, as well as grappling cultural or Read this Term) regions. Mr. Nachmann also was originally tasked as the co-head of the firm's financing group in 2014.

In addition, Richard Gnodde, Goldman's acting banking head in London, is also slated to leave his role, instead focusing on leading the lender’s operations across Europe as Chief Executive Officer of Goldman Sachs International.