Goldman Sachs Group Inc has named veteran banker Todd Leland as its
investment banking head for Asia Pacific excluding Japan, according to
an internal memo seen by Reuters, adding to leadership changes at the
bank with CEO David Solomon taking over this month.
HONG KONG: Goldman Sachs Group Inc has named veteran banker Todd Leland
as its investment banking head for Asia Pacific excluding Japan,
according to an internal memo seen by Reuters, adding to leadership
changes at the bank with CEO David Solomon taking over this month.
Leland, an American who joined Goldman in 1992, will replace Andrea
Vella and Kate Richdale who were appointed co-heads of the unit in 2015.
Vella and Richdale will remain in the region to become the co-chairs of
the unit, said the memo sent to the bank staff and seen by Reuters on
Monday.
Leland was named a co-president of the bank for Asia Pacific excluding
Japan in September last year, a designation that he will retain, the
memo said. He had previously worked in London for 10 years.
A Goldman spokesman in Hong Kong confirmed the content of the memo.
Leland takes over at a time when China's aggressive outbound push for
mergers and acquisitions has slowed this year amid an escalating trade
war with the United States, and weaker markets are expected to weigh on
the appetite for new equity offerings.
In the first nine months of 2018, Goldman's revenue in Asia, which is
smallest of its three regions, rose 9 percent to US$3.9 billion. Asia's
share of group sales fell by 1 percentage point to 14 percent in that
period, its filings showed.
Richdale, a fluent Mandarin speaker with experience in Southeast Asian
dealmaking, joined Goldman from Morgan Stanley in March 2013.
Before taking over the Asia leadership role, Vella had been co-head of
the financing group in the region since January 2014. Prior to that he
was head of credit capital markets in Asia excluding Japan.
In a separate memo, Goldman also announced that Raghav Maliah, its head
of the technology, media and telecom group in Asia Pacific excluding
Japan, will become global vice-chairman of the investment banking
division.
Among other executive changes since Solomon was named the group chief
executive, Goldman last month named Dan Dees, who heads the technology,
media and telecom investment banking group globally, as investment
banking co-chief.
Dees will share his new title with Gregg Lemkau and Marc Nachmann.
Dees's promotion came about a week after Goldman elevated former
investment banking co-head John Waldron to president and chief operating
officer and named Stephen Scherr as its new finance chief.
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investment banking head for Asia Pacific excluding Japan, according to
an internal memo seen by Reuters, adding to leadership changes at the
bank with CEO David Solomon taking over this month.
HONG KONG: Goldman Sachs Group Inc has named veteran banker Todd Leland
as its investment banking head for Asia Pacific excluding Japan,
according to an internal memo seen by Reuters, adding to leadership
changes at the bank with CEO David Solomon taking over this month.
Leland, an American who joined Goldman in 1992, will replace Andrea
Vella and Kate Richdale who were appointed co-heads of the unit in 2015.
Vella and Richdale will remain in the region to become the co-chairs of
the unit, said the memo sent to the bank staff and seen by Reuters on
Monday.
Leland was named a co-president of the bank for Asia Pacific excluding
Japan in September last year, a designation that he will retain, the
memo said. He had previously worked in London for 10 years.
A Goldman spokesman in Hong Kong confirmed the content of the memo.
Leland takes over at a time when China's aggressive outbound push for
mergers and acquisitions has slowed this year amid an escalating trade
war with the United States, and weaker markets are expected to weigh on
the appetite for new equity offerings.
In the first nine months of 2018, Goldman's revenue in Asia, which is
smallest of its three regions, rose 9 percent to US$3.9 billion. Asia's
share of group sales fell by 1 percentage point to 14 percent in that
period, its filings showed.
Richdale, a fluent Mandarin speaker with experience in Southeast Asian
dealmaking, joined Goldman from Morgan Stanley in March 2013.
Before taking over the Asia leadership role, Vella had been co-head of
the financing group in the region since January 2014. Prior to that he
was head of credit capital markets in Asia excluding Japan.
In a separate memo, Goldman also announced that Raghav Maliah, its head
of the technology, media and telecom group in Asia Pacific excluding
Japan, will become global vice-chairman of the investment banking
division.
Among other executive changes since Solomon was named the group chief
executive, Goldman last month named Dan Dees, who heads the technology,
media and telecom investment banking group globally, as investment
banking co-chief.
Dees will share his new title with Gregg Lemkau and Marc Nachmann.
Dees's promotion came about a week after Goldman elevated former
investment banking co-head John Waldron to president and chief operating
officer and named Stephen Scherr as its new finance chief.
https://www.geezgo.com/sps/43829
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Geezgo for free. Use Geezgo's end-to-end encrypted Chat with your
Closenets (friends, relatives, colleague etc) in personalized ways.>>
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