Goldman's Entwistle to step down as Southeast Asia head -memo

Hong Kong Mon Nov 12, 2012 11:23am IST

Traders work on the floor of the New York Stock Exchange near the Goldman Sachs stall July 16, 2010. REUTERS/Brendan McDermid/Files

Traders work on the floor of the New York Stock Exchange near the Goldman Sachs stall July 16, 2010.

Credit: Reuters/Brendan McDermid/Files

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Hong Kong (Reuters) - The head of Goldman Sachs Group Inc's (GS.N) Southeast Asian operations is set to step down and move to a new position as an advisory director for the bank at the end of the year, according to company memo obtained by Reuters.

Goldman has not yet named a new Southeast Asia chairman to succeed L. Brooks Entwistle, 45, who is known for his work in establishing Goldman Sachs' Indian business, a process he began when he moved to Mumbai in 2006.

Entwistle remained in Mumbai as India country head until early 2011 when he moved to Singapore.

Southeast Asia has become increasingly important for investment banks as deal volume in the region booms while activity for other regions wanes. Goldman Sachs relocated high-profile capital markets banker Steven Barg to Singapore in July to become co-head of investment banking Southeast Asia, alongside Hsin Yue Yong.

A spokesman for the bank confirmed the contents of the memo. (Reporting by Lawrence White; Editing by Edwina Gibbs)

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