Nov. 7 (Bloomberg) -- Michael Sherwood, co-head of Goldman Sachs Group Inc.’s European business, will oversee operations in emerging markets as he takes over for J. Michael Evans, who’s retiring.
Sherwood, a London-based vice chairman, will coordinate the company’s units in so-called growth markets, Chief Executive Officer Lloyd C. Blankfein and President Gary D. Cohn said today in a memo to employees. Michael DuVally, a spokesman for the New York-based bank, confirmed the memo’s contents.
Sherwood, 48, “will help drive our strategy, identify new commercial opportunities and allocate resources in countries experiencing stronger economic growth and rapid business and capital markets development,” Blankfein and Cohn wrote in the memo. “Michael will also oversee the performance of our businesses, including their footprint and pace of growth.”
Sherwood, a Briton, joined Goldman Sachs in 1986 and became a partner in 1994, according to the memo. He was promoted to vice chairman in February 2008, at the same time as Evans, and kept his role as co-CEO of Goldman Sachs International.
Sherwood rose through the ranks of the fixed-income department like Blankfein, 59, and Cohn, 53. He was co-head of the trading business from 2003 to 2008. He’s currently chairman of the partnership committee.
The Wall Street Journal reported the move earlier today.
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