Goldman Sachs has appointed Dave Friedland to succeed Stephanie Cohen as new global head of financial and strategic investor mergers and acquisitions, per an internal memo on Monday, seen by Reuters.
As the firm embarks on a three-year growth plan, the new appointment makes way for Mr. Friedland, a fast-rising partner in the investment banking division, who has recently served as head of M&A for the real estate and consumer retail groups. He also co-chairs the global fairness committee.
Friedland joined Goldman Sachs in 1998 as an analyst and received the partner title in 2014. He’ll continue working with real estate clients over the next few months as he transitions to the new role, according to the memo.
Dave will be responsible for leveraging Goldman Sachs’s M&A division, which usually leads all of Wall Street in the category, essentially, across M&As done by private-equity firms and other big investors. The high-profile role was arguably created to bridge Goldman’s industry-specific M&A functions with its financial sponsors groups, helping both and increasing efficiency for clients.
He replaces Stephanie Cohen, who was recently promoted to succeed Stephen Scherr as chief strategy officer. Cohen, who has run mergers and acquisitions banking for financial sponsors since 2015, will join the executive office, as the bank looks to incubate new businesses and find different sources of revenue.