Goldman Plans to Move London Hedge-Fund Operations to New York

Goldman Sachs Group Inc. is moving its London hedge-fund operations to New York following the retirement of its regional head, Nick Advani.

“This is a discrete decision for reasons specific to GSIP, one investment team within Goldman Sachs, and shouldn’t be construed as anything but that,” the company said in a statement, referring to Goldman Sachs Investment Partners. GSIP is part of the bank’s asset-management unit.

The move may affect eight people working at the GSIP fund, which manages about $3.5 billion, according to people with knowledge of the matter who asked not to be identified because they weren’t authorized to discuss it. Raluca Ragab, a managing director who has been running the London team since Advani’s departure, decided to leave the firm and not relocate to New York, one of the people said.

GSIP is led by Kenneth Eberts and Raanan Agus. A Goldman Sachs spokesman declined to comment on the details of the move.

The news was reported by Reuters earlier.

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