Goldman Sachs Names Three Bankers to Management Committeeby
Lemkau, Nachmann and Esposito to replace departing dealmakers
Goldman Sachs is the top-ranked merger adviser this year
Goldman Sachs Group Inc. named three senior bankers to its management committee as the firm replaced dealmakers who’ve left its top leadership group.
Gregg Lemkau, Marc Nachmann and Jim Esposito were appointed to the panel, according to a memo Monday from Chief Executive Officer Lloyd Blankfein and President Gary Cohn. Lemkau serves as co-head of mergers and acquisitions, while Nachmann and Esposito lead the New York-based firm’s financing division.
Longtime investment bankers Gordon Dyal, Christopher Cole and John S. Weinberg all announced their retirement from the firm this year, while M&A Chairman Gene Sykes stepped down from the management committee to oversee Los Angeles’s bid for the 2024 Olympic games. John Waldron joined the committee last December when he was named co-head of investment banking, meaning four new bankers have been brought on since the company expanded the group to 34 members in February 2014.
Goldman Sachs is the top merger adviser this year and ranks first on global equity offerings, according to data compiled by Bloomberg. The firm generated $2.43 billion of pretax profit from its investment-banking division in the first nine months of 2015, the most of its four reporting segments. The division has never earned more profit in a year than the trading division since 2008, the first year when data is available under the company’s current reporting structure.
Lemkau became co-head of M&A, a role he shares with Michael Carr and Gilberto Pozzi, in 2013, while Nachmann and Esposito took on their current jobs the next year.
The Wall Street Journal reported the appointments earlier Monday.