People Moves

Goldman Sachs Bolsters EMEA Wealth Business

Tom Burroughes Group Editor 12 February 2019

Goldman Sachs Bolsters EMEA Wealth Business

The firm has named a co-head for private wealth management in the EMEA region. Late last year, it made senior hires in the US Southeast for the same division.

Goldman Sachs confirmed that it has named Stefan Bollinger as co-head of its private wealth management business for Europe, the Middle East and Africa. This adds to other PWM senior hires in recent months.

Bollinger will join Chris French, who has served as head of private wealth management for EMEA since joining the division in 2007, and will report to Tucker York, global head of the business, Reuters reported. A spokesperson for the US firm confirmed the report to this publication today.

The US firm has developed its PWM business on a number of fronts and this publication understands that more expansion is on the cards.

Bollinger was co-head of global sales strats and structuring across equities and fixed income, currency and commodities in the securities division, and he will continue to act as country coordinator for Switzerland.

Late last year Goldman Sachs’ private wealth management arm named its region head for Florida and Latin America, while also unveiling another senior hire in the PWM business. Rob Barlick became the region head of PWM in Florida and Latin America, while Greg Ferrero moved to the role of private wealth advisor having previously been region head of private wealth management in Miami and West Palm Beach.

In January, the firm reported net revenues of $36.62 billion and pre-tax earnings of $12.48 billion for 2018, a 12 per cent year-on-year rise in each case. Investment management produced record net revenues of $7.02 billion in 2018,13 per cent higher on a year before, including record management and other fees. Assets under supervision of $1.54 trillion included net inflows of $89 billion during the year, with net inflows of $37 billion in long-term assets under supervision.

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