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Goldmans Lose Senior Wealth Management Executive
Stephen Harris
19 November 2008
Pernille Jensen, head of UK private clients at Goldman Sachs, has left the firm, WealthBriefing has learnt. Last year Goldmans had appointed Christopher French, former chairman of European investment banking at the US bank, as co-head of wealth management outside the US, alongside Mr Grip. This week it was reported that top executives at the Wall Street bank will receive no bonus for 2008 after Goldman's seven most senior bankers waived their right to a payout. The move, which is likely to put pressure on other banks to follow suit, comes after a turbulent year in which Goldman converted itself into a commercial bank and received a $10 billion capital injection from the US government. It also follows intense scrutiny of Wall Street bonuses from legislators and regulators. It has also been recently reported that Goldman is making around 10 per cent of its global workforce redundant. It is not known whether Ms Jensen's move is part of this development.
Ms Jensen had previously been co-head of Europe, along with Zurich-based Rene Mottas. Goldman Sachs declined to comment on the departure. Earlier in the year London-based Douglas Grip, head of private banking ex-US, and Michael Covell, head of Goldman’s wealth services left the firm.