Goldman Names Dibelius Co-Chairman of Investment Banking

Goldman Sachs Group Inc. named Alex Dibelius as co-chairman of its investment-banking division, the unit with the highest revenue growth this year.

Dibelius, 55, joins Christopher Cole and Gordon Dyal in the role, according to an internal memo obtained by Bloomberg News. Wolfgang Fink and Joerg Kukies will replace Dibelius in leading the New York-based firm’s business in Germany and Austria, according to a second memo.

Goldman Sachs’s investment-banking revenue climbed 17 percent to $5.02 billion in the first nine months of this year, the most of any firm as it ranked first in advising on mergers and underwriting equity offerings. The unit now has three chairmen in addition to its three co-heads, Richard Gnodde, David Solomon and John S. Weinberg.

Dibelius is one of Germany’s best-known bankers, generating headlines from working on some of the country’s biggest deals to a high-profile divorce and appearances with celebrities at Germany’s Oktoberfest. He worked on Vodafone Group Plc’s acquisition of Mannesmann AG in 2000, the biggest-ever deal at the time, and Daimler AG’s ill-fated merger with Chrysler Corp. in 1998.

Dibelius will give up his role as chairman of global industrials as part of the promotion, according to the memo, the contents of which were confirmed by Monika Schaller, a Frankfurt-based spokeswoman for Goldman Sachs. He also previously had responsibility for the firm’s business in central and eastern Europe.

Fink is currently head of investment banking for Germany and Austria, while Kukies is head of sales for the region in the firm’s trading division.

Reuters reported Dibelius’s move earlier today.

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