Goldman Sachs Says Banking Partner Jeffrey Moslow to Retire
Goldman Sachs Group Inc. (GS)’s Jeffrey Moslow, an investment banker to companies such as Tyco International Ltd., plans to leave the firm.
Moslow, 47, a partner based in New York, is a former head of the investment-banking services group and joined the firm in 1994, Goldman Sachs said today in an internal memorandum disclosing the move. The memo was obtained by Bloomberg News and confirmed by the company.
Moslow’s departure is the second by a partner in the investment bank to be announced this week. Goldman Sachs, the fifth-biggest U.S. bank by assets, said yesterday that George Mattson, head of the industrials investment-banking group, plans to leave. In the last year, Goldman Sachs has lost about 50 partners, the highest rank of employees who share in a special compensation pool and are elected every two years.
“Over the course of his career, Jeff played a significant role in the development of our IBS strategy and has also helped to recruit, mentor and develop many of our next generation of coverage bankers,” Richard Gnodde, David Solomon, and John S. Weinber, the co-heads of investment banking, said in the memo.
The investment banking services group, which Moslow ran or co-ran from 2002 to 2008, was founded by former Goldman Sachs Co-Chairman John Whitehead and consists of bankers focused on “covering” specific clients rather than specializing in a product such as stock underwriting or merger advice.
Moslow has been advising Nstar, the Boston-based utility, on a planned sale to Northeast Utilities, and counseled defense contractor Dyncorp International Inc. in its 2010 sale to Cerberus Capital Management LP.