Susan M. Ciccarone, a managing director in Goldman Sachs Group Inc. (GS)’s financial institutions group, has left the company after three years to become chief financial officer at Emerging Global Advisors LLC.
Ciccarone, 39, started this week, according to Bill Fallon, a spokesman for New York-based Emerging Global, who declined to comment on who she replaced.
The asset-management company, which advises the EGShares family of exchange-traded funds, last year hired Marten S. Hoekstra as chief executive officer, replacing Robert C. Holderith, who founded the firm in 2008 and is now president. Hoekstra, 51, was previously CEO of the Americas wealth- management business at Zurich-based UBS AG (UBSN), where he worked for 26 years.
Ciccarone joined New York-based Goldman Sachs in 2009, after having worked at UBS since 2002, according to records maintained by the Financial Industry Regulatory Authority. She was promoted to managing director, the company’s second-highest rank, in 2010. At Goldman Sachs, she specialized in advising banks, including Toronto-Dominion Bank (TD)’s $6.3 billion cash purchase of Chrysler Financial Corp. from Cerberus Capital Management LP, which was completed last year.
“I am happy to join a firm that is leading the effort to provide investors with tools for core emerging-market investment allocations,” Ciccarone said in a statement provided by Emerging Global.
Goldman Sachs, based in New York, is the fifth-biggest U.S. bank by assets.