Goldman Sachs shuffled the senior ranks within its investment banking arm as it sought to strengthen – and, in some cases, repair – client relationships that frayed during the bank’s public battles with regulators and politicians in the wake of the financial crisis.
While the investment banking arm long ago ceded its role as Goldman’s largest and most profitable business to the bank’s traders, the division remains an essential cog in the company’s strategy and its primary conduit to the corporate world.
It has appointed London-based Richard Gnodde as co-head of the investment banking division while picking a pair of veteran dealmakers to manage its merger advisory business.
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