People Moves
Goldman Sachs Builds UK PWM Business
The US firm is building a private wealth management presence in the UK, and other hires in Europe add to the story.
Goldman Sachs
has been increasing the pace of private bank hiring in London,
targeting ultra-high net worth individuals.
The New York-based bank has hired at 10 private-wealth advisors
in the city this year from rivals, this news service can confirm.
“Goldman Sachs aims to be the first choice wealth manager for
ultra-high net worth individuals, charities and foundations in
the UK. The investment in bringing leading talent to the firm
reflects our commitment to building long-term partnerships with
clients and providing them with global investment and financing
solutions in a holistic fashion,” Stefan Bollinger, co-head of
private wealth management for EMEA, said in an emailed statement
to this news service.
“We feel that the quality of our new and existing private wealth
advisors, the teams that support them and our clients as well as
the content specialisms we have at the firm underpin our
continued commitment to provide the highest levels of client
service and advice."
In 2021, the firm made 10 external hires, increasing its UK
advisor base by 20 per cent; in addition it has transferred or
promoted an additional seven people into PWA roles and it now has
50 advisors serving UK clients.
The external hires are: Fiona Macleod; Dmitra Koutsoukos; Heidi
Tyler; Sandeep Bhamra; James Westropp; Selina-Valencia McDonald;
Pedro Dias Ferreira; Manuela Maia; Clement Hutton-Mills; and
Alison Bishop (joins December 2021).
In continental Europe, two senior figures - Cedric Deleamont and
Jerome Lauber – have been hired by Goldman Sachs as private
bankers in Geneva (as confirmed by their LinkedIn profiles.) They
previously worked at UBS.
Results in the firm’s wealth business have been positive of late.
As reported a few weeks ago, Goldman Sachs announced that net
revenues in consumer and wealth management were $2.02 billion for
the third quarter of 2021, rising 35 per cent higher than the
third quarter of 2020, and 16 per cent higher than the second
quarter of 2021.
