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Wednesday, January 22, 2014

Goldman banker Bicudo to head Brazil's Eneva, source says, (NYSE: GS)

Brazilian energy producer Eneva SA named former Goldman Sachs Group Inc dealmaker Fabio Bicudo as chief executive officer, a source with direct knowledge of the situation said on Wednesday.Bicudo left Goldman Sachs this week after a four-year stint, his second there, according to a memo obtained by Reuters. Last March, he became co-chief of Goldman's investment banking unit in Brazil alongside Antonio Pereira as part of a shakeup that followed a capital injection and a shift toward higher-margin products.Eneva, formerly known as MPX Energia SA, is jointly controlled by E.ON SE, Germany's largest utility, and Brazilian investor Eike Batista. Goldman Sachs was the main adviser for E.ON on its investment in MPX, which the German company renamed Eneva after building a 37.9 percent stake through a series of stock purchases from Batista."My work at Goldman Sachs was extremely gratifying because it not only allowed me to work with large Brazilian companies but also key multinationals," the memo quoted Bicudo as saying. "One of those companies invited me to head its operations."

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 0.56% or $0.97/share to $174.17. In the past year, the shares have traded as low as $137.29 and as high as $181.13. On average, 2840920 shares of GS exchange hands on a given day and today's volume is recorded at 1685992.