Goldman Sachs Appoints Luke Sarsfield as Co-Head of Asset Management Unit

The Goldman Sachs logo is seen on the floor of the New York Stock Exchange (NYSE) in New York, New York, U.S. November 17, 2021. REUTERS/Andrew Kelly/File Photo

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Jan 24 (Reuters) – Goldman Sachs Group Inc (GS.N) has announced that it has appointed Luke Sarsfield as global co-head of its $2.47 trillion asset management business, according to a memo seen by Reuters Monday.

Sarsfield will take the job alongside Julian Salisbury, who has run the unit alone since Eric Lane ended his more than 25-year association with the bank in March last year to join investment firm Tiger GlobalManagement. Read more

The asset management arm provides investment and advisory services to several clients, including sovereign wealth funds, public and private pension funds and insurance companies.

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By mid-2020, Goldman Sachs had merged its merchant banking and asset management businesses into a single unit as part of a broader restructuring. [https://reut.rs/33FuZfR]

Sarsfield, who worked at the leading investment bank for more than 22 years, is currently co-head of its client business for the asset management arm. He was previously the global head of the financial institutions group at Goldman Sachs and the global managing director of the investment banking division.

Chief Executive David Solomon, who took over from Lloyd Blankfein in October 2018, streamlined the bank’s structure into four core businesses – investment banking, trading, asset management and consumer banking – to focus on unstable transactions and on more stable activities.

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Reporting by Manya Saini in Bengaluru and Matt Scuffham in New York; Editing by Krishna Chandra Eluri

Our standards: The Thomson Reuters Trust Principles.

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