Goldman Sachs Group Inc., the world’s top-ranked mergers and acquisitions adviser this year, named Gregg Lemkau to help lead that business worldwide and put Gilberto Pozzi in Lemkau’s prior role running M&A in Europe.
Lemkau, a 43-year-old U.S. citizen who lives in London, will be global co-head with Gene Sykes, 55, who lives in Los Angeles, according to a memo to employees today. A spokeswoman for New York-based Goldman Sachs confirmed the promotions.
Investment banks are looking for a rebound in takeovers after global M&A rose to the highest level in four years during the last quarter of 2012, according to data compiled by Bloomberg. The surge softened the impact of a 9 percent decline for the full year. About $220 billion in transactions have been announced so far this year.
Lemkau was co-head of Goldman Sachs’s global technology, media and telecom group and has advised on transactions including the $8.5 billion sale of Skype to Microsoft Corp. and the $16.5 billion sale of Medimmune LLC to AstraZeneca Plc. He will work closely with Michael Carr, who runs M&A in the Americas, as well as with Sykes, according to the memo.
The Financial Times reported Lemkau’s move earlier today.
Lemkau’s promotion is part of a shift in management toward younger executives who were promoted to partner after the firm went public in 1999 and ceased to be a true partnership. Among the 30 current members of the management committee, 15 became partners before the IPO. The memo didn’t say Lemkau would be joining the management committee.
Lemkau was promoted to partner in October 2002, and was part of the same 78-member partnership class that included William C. Dudley, now the president of the Federal Reserve Bank of New York; Carsten Kengeter, who later became head of UBS AG’s investment bank; and Harvey M. Schwartz, who became Goldman Sachs’s chief financial officer late last month.
Pozzi, a 47-year-old Italian who has been co-head of Goldman Sachs’s global consumer retail group since 2010, will continue to be responsible for some clients in that sector while overseeing deals throughout Europe, the Middle East and Africa, the firm said in a separate memo. Pozzi joined Goldman Sachs in London in 1995 and was promoted to partner in 2008.
Pozzi’s deals have included Unilever NV’s acquisition of Russia’s Kalina consumer group and Mittal’s takeover of Arcelor.
Francois-Xavier “FX” de Mallmann, 42, will succeed Pozzi as co-head of Goldman’s global consumer retail group alongside Kathy Elsesser. De Mallman, who is based in London and has French and Swiss citizenship, will also remain responsible for investment-banking services in Europe, the Middle East and Africa, a role he’s held since January 2012. De Mallmann joined Goldman Sachs in 1993 and has been a partner since 2004.
The three memos on Lemkau, Pozzi and de Mallmann were signed by Richard J. Gnodde, David Solomon and John S. Weinberg, the three co-heads of investment banking.