Gregg Lemkau, co-head of funding banking for Goldman Sachs & Co.Christopher Goodney | Bloomberg | Getty PicturesGoldman Sachs is shedding consi
Gregg Lemkau, co-head of funding banking for Goldman Sachs & Co.
Christopher Goodney | Bloomberg | Getty Pictures
Goldman Sachs is shedding considered one of its prime dealmakers.
Gregg Lemkau, a nearly-three decade veteran of the financial institution and co-head of its powerhouse funding banking division, is leaving Goldman on the finish of the 12 months, in accordance with an inner memo despatched Monday from CEO David Solomon. Lemkau is becoming a member of MSD Companions, an funding agency linked to Michael Dell’s household workplace, in February as CEO, in accordance with a separate launch.
Lemkau, referred to as one of many prime mergers bankers on Wall Avenue, has suggested on tons of of transactions since becoming a member of the financial institution in 1992. Goldman Sachs is the world’s top-ranked mergers agency with roles on $758.6 billion in offers to date this 12 months, in accordance with Dealogic.
One other Goldman veteran, Jim Esposito, is taking Lemkau’s place as co-head of the funding banking division, Solomon mentioned in a separate memo. Whereas Esposito was most not too long ago international co-head of the financial institution’s buying and selling division, he has spent most of his 25-year profession at Goldman in senior funding banking roles.
“Please be a part of me in thanking Gregg for his many contributions to the agency, our shoppers and our folks, and in wishing him and his household the perfect within the years forward,” Solomon mentioned within the memo. The Wall Avenue Journal was first to report on his departure.
MSD Companions manages cash for each the Dell household workplace and outdoors buyers and has greater than $15 billion in belongings below administration. Lemkau will concentrate on rising the agency’s current investments in actual property, non-public and public equities and credit score, in addition to increasing into new areas, the corporate mentioned. He’ll work with John Phelan, the co-founder of MSD and its chief funding officer.
“I’ve recognized Gregg for plenty of years and suppose that he will likely be a terrific match for the tradition that has been constructed at MSD over 20 years,” Michael Dell mentioned within the launch.
This is the total memo from Solomon:
Gregg Lemkau to Retire From Goldman Sachs
Gregg Lemkau, co-head of the Funding Banking Division (IBD) and a member of the Administration Committee, will retire from the agency on the finish of the 12 months.
As co-head of IBD, Gregg has helped lead our efforts to proceed to solidify and develop our pre-eminent funding banking franchise all over the world. Throughout his greater than 28-year tenure on the agency, he has suggested on tons of of transactions, and has spent important time advising our shoppers throughout all sectors globally whereas working in our workplaces within the US and in Europe. The agency has benefitted tremendously from Gregg’s deep and expansive understanding of industries and markets, in addition to his distinctive consumer service mindset.
Gregg has additionally been instrumental in supporting our dedication to driving sustainable inclusive financial development, serving to conceive of and implement our board variety initiative. He has partnered carefully with our shoppers to enhance their variety illustration pre-IPO, and thru this vital work has underscored our agency’s conviction within the significance of getting numerous voices represented on the desk, each in enterprise and society extra broadly.
As well as, Gregg has been a steward of the agency’s tradition of teamwork and excellence all through his almost three a long time at Goldman Sachs, and has been a key developer of expertise and a mentor to so lots of our present and future leaders. He has additionally sponsored plenty of essential applications to help our folks, akin to occasions organized by the Goldman Sachs Veterans Community and our Veterans Integration Program.
Gregg has served with excellence since he joined us as an analyst in 1992 in Mergers & Acquisitions. Previous to assuming his present position as co-head of IBD, Gregg was co-head of World Mergers & Acquisitions. He has additionally served as international co-head of the Expertise, Media and Telecom Group, international co-head of the Healthcare Group and chief working officer for the Funding Banking Division. Gregg is a member of the IBD Govt Committee, and beforehand served as chairman of the Firmwide Commitments Committee from 2011 to 2015 and as a member of the Partnership Committee. He was named managing director in 2001 and companion in 2002.
Please be a part of me in thanking Gregg for his many contributions to the agency, our shoppers and our folks, and in wishing him and his household the perfect within the years forward.
David M. Solomon
This text has been up to date to make it clear that Lemkau is becoming a member of an funding agency affiliated with the Dell household workplace.