Goldman Sachs's Scher to Run Investment Grade, Risk Groupby
Changes are latest made to Goldman's global financing group
Last month the firm combined structured and leveraged finance
Goldman Sachs Group Inc. named Susie Scher to run a newly created group combining investment-grade capital markets with another business that sells derivatives and risk-management products to corporate clients in the Americas.
Scher, 51, most recently was head of Americas investment-grade capital markets and syndicate, as well as liability management, Marc Nachmann, head of global financing, said in a staff memo obtained by Bloomberg. Michael DuVally, a spokesman for the New York-based firm, confirmed the memo’s contents and declined further comment.
Goldman Sachs has been reshaping its global financing business, merging units and giving younger executives more responsibility as it seeks to more efficiently sell advice and services to corporate clients. The group includes debt and equity underwriting, as well as derivatives tied to markets such as foreign exchange and interest rates that companies use to hedge.
“The combination of these businesses will allow us to better serve our clients by providing holistic financing and risk-management solutions and allow the continued expansion of our risk-management franchise,” Nachmann said in the memo.
Goldman Sachs also named Eric Jordan to run the risk-management group, which will combine services for corporations and financial institutions, according to the memo. Jonny Fine is gaining responsibility for the financial-institutions financing component in addition to his current role leading the Americas investment-grade syndicate desk, according to the memo. Scher became a partner in 2006, Jordan in 2010 and Fine in 2014.
Last month, Goldman Sachs merged its structured- and leveraged-finance groups, placing Christina Minnis and Vivek Bantwal in charge of the combined Americas credit-finance group. At the time, Nachmann assumed sole responsibility for the global financing group as his former co-head, Jim Esposito was named chief strategy officer of the firm’s securities unit.
Goldman Sachs also promoted David Ludwig and Pete Lyon last month to run its equity capital markets business in the Americas. They succeeded John Daly, who’s becoming the unit’s global chairman.