Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, March 6, 2013

Goldman taps Brazil investment bank co-heads as Wainstein quits, (NYSE: GS)

Goldman Sachs Group Inc named bankers Fabio Bicudo and Antonio Pereira as co-heads of investment banking in Brazil, where the U.S. firm is seeking to leverage growth in fast-growing activities such as structured finance and corporate lending.Both bankers were co-chief opperating officers of Goldman's investment-banking unit in Brazil prior to the appointment, according to a memo obtained by Reuters on Wednesday. Both Bicudo and Pereira are veterans of the New York-based firm, where the former worked in mergers and acquisitions primarily and the latter worked in debt capital markets deals for some time.The appointments came the same day that Goldman Sachs announced that Daniel Wainstein, chairman of the investment-banking unit in Brazil, plans to retire from the firm after 13 years. Wainstein has been a partner of Goldman Sachs - one of the two that the firm has in Brazil - since 2010."As co-heads, Fabio and Antonio will continue to develop our strategy and strengthen our developing client franchise in this important market," the memo said.

The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.12% or $0.19/share to $153.15. In the past year, the shares have traded as low as $90.43 and as high as $159.00. On average, 4560380 shares of GS exchange hands on a given day and today's volume is recorded at 1255262.