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Goldman Sachs appoints Luke Sarsfield as co-head of asset management unit -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Goldman Sachs logo can be seen in New York City on the New York Stock Exchange’s trading floor. This is November 17th, 2021. REUTERS/Andrew Kelly/File photo

(Reuters) – Goldman Sachs Group According to a memo Reuters received on Monday, Inc (NYSE:), announced that it had appointed Luke Sarsfield global co-head for its $2.47 trillion asset management business.

Sarsfield will succeed Julian Salisbury who was the sole leader of the unit since Eric Lane left it in March 2013 to go into investment with Tiger Global Management.

Asset Management provides services such as investment and advice to a variety of clients. This includes sovereign wealth funds and pension funds.

As part of its larger restructuring, Goldman Sachs had in mid-2020 merged both merchant banking and asset managing businesses to create one unit. [https://reut.rs/33FuZfR]

Sarsfield has been with the bank’s premier investment bank for 22 years and is now the co-head its client business. Before that, he was the global head for financial institutions at Goldman Sachs and also the chief operating officer for the investment banking division.

David Solomon, the Chief Executive, succeeded Lloyd Blankfein, in October 2018. He has simplified the structure of the bank into four major businesses, investment banking, trading and consumer banking. This allows it to focus less on volatile trading and more on stable business models.

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