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Money News

Goldman Sachs names new leaders of natural resources investment banking, memo shows

FILE PHOTO: FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid/File Photo

NEW YORK (Reuters) - Goldman Sachs Group has made changes at the top of its natural resources investment banking team, including handing sole responsibility for leading the group to Suhail Sikhtian, according to a memo seen by Reuters on Tuesday.

Sikhtian will be sole global head of natural resources investment banking going forward, having served in a co-head capacity since 2014, said the memo, the contents of which were confirmed by a bank spokeswoman.

Gonzalo Garcia, who had been jointly responsible for natural resources investment banking, was earlier on Tuesday named co-head of Goldman’s investment banking division in Europe, the Middle East and Africa (EMEA).

Other changes announced in Tuesday’s memo include the promotion of Brian Bolster and Francesco Pascuzzi to heads of natural resources investment banking in, respectively, the Americas and EMEA.

Both will retain their existing responsibilities, as global co-heads of power and infrastructure investment banking. Pascuzzi is also the co-head of investment banking in Italy.

“This leadership structure will allow us to continue to invest in the sector and optimize our client coverage strategy to serve the strategic and financing needs of our clients,” the memo added.

Reporting by David French in New York; Editing by Paul Simao

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