Goldman's new MD list doesn't include Seoul members The firm announced its new class of MD, effective from January 2020
Translated by Kim So-in 공개 2019-12-06 08:00:00
이 기사는 2019년 12월 06일 08:00 thebell 에 표출된 기사입니다.
U.S.-based investment bank Goldman Sachs announced the Managing Director Class of 2019, which comprises 465 members, while there was no promotion in investment banking (IB) division of Seoul office.According to industry sources on November 28, Goldman Sachs recently announced its 2019 class of managing directors (MDs), with 465 employees from 36 offices around the world getting the nod. Geographically, 74 members are in Asia Pacific region, which comprises 16 percent of the total class size. The new roles take effect January 1, 2020.
The firm announces MD promotions every two years. In 2017, Goldman Sachs announced a class of 509 MDs – the largest class in the firm’s history. In Seoul branch, Choi Jae-joon and Jason Kim in the debt capital market (DCM) division and Eugene Kim in Goldman Sachs Asset Management were promoted to MDs two years ago.
Market anticipation has heightened ahead of the announcement that executives in IB division in Seoul will be promoted to the role of MDs. Two executive directors, Euh Ho-sun and Lee Suk-yong, in the M&A financial advisory division in Seoul, have been at the firm for a quite long time. Hyung Jin David Chung is country head of Goldman Sachs Korea.
Goldman Sachs has advised on many domestic deals this year after struggling over the past few years. The firm advised on the acquisition of Geo-Young and the sale of Linde Korea, CJ Hello and Woongjin Coway this year.
However, with the names being left off the new MD list, eyes are shifting to the firm’s new class of partners next year. Goldman Sachs will announce its new partners late next year.
John Kim, former head of Goldman Sachs’ M&A in Asia Pacific excluding Japan, is the first-ever Korean partner in the firm. Goldman Sachs appointed Kim as the partner in 2012. Kim spent 19 years with the bank in Asia, moving between his native Korea and Hong Kong. He headed Goldman Sachs Korea before taking over the M&A division for Asia ex-Japan in 2015. Kim recently decided to move to global private equity giant Carlyle Group.
Goldman Sachs named Raghav Maliah and Jung Min as new leaders for its M&A business in Asia ex-Japan. Min has been co-head of the technology, media and telecom (TMT) group in Asia Pacific ex-Japan and has recently been named co-chief operating officer of global TMT. He joined the firm in 2005.
(By reporter Han Hee-yeon)
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