Goldman Sachs’s Last Remaining Partner in Brazil Leaves the Firmby
Andre Laport Ribeiro, head of Latin American equity, departs
Laport will be replaced by Reginaldo Lima and Juliano Arruda
Andre Laport Ribeiro, head of Latin American equities for Goldman Sachs Group Inc. and the firm’s last remaining partner in Brazil, has left after equity deals in the region tumbled 67 percent.
Laport, who had been at Goldman Sachs since 2008, will be replaced by Reginaldo Lima and Juliano Arruda, both based in Sao Paulo, according to Michael DuVally, a spokesman for the New York-based company. DuVally said Laport retired, and declined to comment further.
Laport moved to Sao Paulo from New York to head the Latin America equity sales and trading business when Goldman Sachs opened its equity brokerage in the country in 2009. Equity offerings in Latin America this year dropped to $3 billion, the lowest level since at least 2005, according to data compiled by Bloomberg. Goldman Sachs didn’t work on any of the 16 deals so far in 2016, the data show.
The only other Brazilian to become a partner at Goldman Sachs was Daniel Wainstein, who left in January 2013 and is now Brazil co-head of Greenhill & Co. and based in Sao Paulo.
Estado de S.Paulo columnist Sonia Racy reported last week that Laport had left Goldman Sachs, without saying where she got the information.