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Bloomberg
Xiaoyin Zhang, the Goldman Sachs Group Inc. dealmaker who helped bring China’s three largest Internet companies to market, is leaving the firm.
Zhang, a partner and head of the China technology, media and telecom group, is retiring after 15 years at Goldman, according to an internal memo obtained by Bloomberg. Connie Ling, a spokeswoman for the New York-based investment bank, confirmed the contents of the memo.
The banker, who joined Goldman in 2002 in Hong Kong, worked on the initial public offerings of the triumvirate of internet firms known as BAT — Baidu Inc., Alibaba Group Holding Ltd. and Tencent Holdings Ltd. — that would go on to become China’s largest technology companies. She also advised Lenovo Group Ltd. on its $2.3 billion purchase of International Business Machines Corp.’s server business announced in 2014, according to Goldman’s annual report that year.
Zhang was named managing director in 2008 and a partner in 2014, according to the memo.
Goldman Sachs has worked on more than $34 billion of first-time share sales from Chinese technology, telecommunications and media companies since the year Zhang joined, making it the No. 1 adviser during the period, according to data compiled by Bloomberg. The pace of deals has slowed in recent years, with the bank advising on just $584 million of such offerings since Alibaba’s record $25 billion IPO in September 2014, the data show.