Goldman Investment Bank Co-Chairman Cole to Retire From FirmBy
Christopher Cole, co-chairman of Goldman Sachs Group Inc.’s investment-banking division, is retiring from the firm after 30 years.
Cole, who served as lead banker on Goldman Sachs’s initial public offering in 1999, will become a senior director of the New York-based company, according to an internal memo released Tuesday. Cole, 56, was previously co-head of the investment-banking division and led the financial institutions group.
The three co-chairmen of investment banking at the start of 2015 have all stepped down this year, as Gordon Dyal announced his departure in March and Alex Dibelius left for buyout firm CVC Capital Capital Partners in June. Karen Cook, one of the firm’s top merger bankers, was named investment-banking co-chairman in July.
Cole “served as an adviser to the firm’s leadership at critical moments in Goldman Sachs’s history,” Chief Executive Officer Lloyd C. Blankfein and President Gary D. Cohn wrote in the memo. “His mentorship, creativity and passion for our clients and our culture have made him a role model for many.”
Goldman Sachs is the top merger adviser and equity underwriter this year. The bank’s $3.92 billion of first-half investment banking revenue was up 10 percent from the same period in 2014.
Reuters reported Cole’s plans earlier Tuesday.
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