Home News Goldman Sachs reshuffles Asia M&A leadership as John Kim joins Carlyle – memo

Goldman Sachs reshuffles Asia M&A leadership as John Kim joins Carlyle – memo

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HONG KONG (Reuters) – Tech specialists Raghav Maliah and Jung Min have been appointed co-heads of Goldman Sachs’ (GS.N) mergers and acquisitions in Asia Pacific excluding Japan as former head John Kim strikes to world non-public fairness big Carlyle Group.

FILE PHOTO: The ticker image and emblem for Goldman Sachs is displayed on a display on the ground on the New York Stock Exchange (NYSE) in New York, U.S., December 18, 2018. REUTERS/Brendan McDermid/File Photo

Kim, a 19-year veteran of the financial institution’s Asia enterprise, joins Carlyle as a managing director of its Asian buyout group, and can lead its actions in Korea, in accordance with a press launch from the non-public fairness group.

Goldman informed employees that Kim was retiring from the financial institution and praised his position as a “trusted advisor to many of our clients” and his involvement in a number of trade-main transactions, in accordance with an inner memo seen by Reuters.

Kim spent 19 years with the financial institution in Asia, shifting between his native Korea and Hong Kong. He headed Goldman Sachs Korea earlier than taking on the M&A division in 2014.

The financial institution additionally informed employees on Wednesday that Maliah and Min, who presently co-lead the financial institution’s expertise, media and telecoms (TMT) enterprise in Asia ex-Japan (AEJ), would assume leadership of Mergers & Acquisition (M&A) for the area too.

Maliah, who joined the financial institution in 2000 and made companion in 2010, can also be world vice-chairman of Goldman’s funding banking enterprise.

Min, who grew to become a companion in 2016, was additionally lately named co-chief working officer of the financial institution’s world TMT enterprise.

“This commitment of senior bankers to our M&A franchise, with their deep experience across industries and geographies, will strategically align our team to capture the anticipated growth in merger activity in AEJ,” the financial institution mentioned in a memo to employees.

The information comes as Goldman chief govt David Solomon marks one 12 months on the helm of the Wall Street big. In an inner podcast interview to mark the anniversary, Solomon mentioned he had centered on ensuring the financial institution’s shoppers had been the middle of its pondering.

“We’re a divisional firm, we’ve always been a divisional firm, but I think there’s a great opportunity to make sure for our clients that we’re delivering the whole firm,” he added.

Goldman ranked second behind Morgan Stanley (MS.N) in a league desk of M&A for Asia Pacific together with Japan on the finish of the third quarter, in accordance with Refinitiv information, having suggested on offers price $108.four billion.

The area has been hit more durable than elsewhere by a drop in world deal volumes as uncertainties over the financial outlook and rising commerce tensions between the U.S. and China weigh on M&A urge for food.

Dealmaking volumes in Asia-Pacific fell 30% 12 months-on-12 months to $751 billion as at end-September in accordance with Refinitiv information, whereas globally volumes fell 11% to $2.eight trillion.

Reporting by Jennifer Hughes; Editing by Richard Pullin and Christopher Cushing

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