Goldman Sachs reshuffle continues with ‘new roles’

Bloomberg

Goldman Sachs Group Inc’s most senior female banker is getting a promotion as Chief Executive Officer David Solomon continues reshaping leadership teams across the firm ahead of his first anniversary in the top job.
Alison Mass, who has been responsible for cultivating the bank’s relationships with top buyout shops and multinational firms, was named chairman of the investment-banking division, while Sheila Patel takes on the same role for Goldman Sachs Asset Management, which oversees more than $1 trillion in assets.
The changes show that the firm’s new management is continuing to move around pieces as it looks to lay out a future plan for investors and analysts at a debut event expected early next year.
Solomon is tapping another investment banker to switch divisions, with Luke Sarsfield to replace Patel
as co-head of an asset management team responsible for sales and strategy for corporate and public pension plans, foundations and endowments, insurers and retail brokerages, among others.
The move to give Sarsfield a leadership role in asset management could also be a hint to the division’s growth plans. Goldman has made several acquisitions in recent years to build out its
investment-management activities, and appointing a banker with experience with financial institution deals could be indicative of more to come.
Pete Lyon — who ran the technology, media and telecom group in investment banking — will now lead the financial sponsors and financial institutions groups that were previously run by Mass and Sarsfield, respectively.