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Goldman Promotes Next Generation of Investment Banking Leaders

  • Lemkau, Nachmann rise as Gnodde leads international business
  • Promotions continue string of moves set off by Gary Cohn exit
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Goldman Sachs Names New Co-Heads of Investment Bank

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Goldman Sachs Group Inc. promoted a new generation of leaders for its investment banking division -- the world’s top merger adviser and the firm’s second-biggest source of profit.

The bank named Gregg Lemkau and Marc Nachmann co-heads of the business, joining John Waldron, in the company’s biggest shakeup since then-President Gary Cohn left to join the Trump administration late last year. The trio will oversee operations that generated $6.27 billion in revenue in 2016. Richard Gnodde, a vice chairman who had run the unit with Waldron from London, will relinquish the role to focus on the international business, according to a memo to staff on Monday.