Goldman promotes six to managing director in the Sao Paulo office

Goldman Sachs today announced the promotion of executives to… General DirectorThe last step before admission partnership.

from Global menuOf the 608 names, six of them are vice presidents in the Sao Paulo office.

In investment banking, they were promoted Fabio Federicipresident Equity capital markets He has been working in the company for nearly seven years. that it Javier Diaz Mery, a banker serving natural resource companies with nearly 13 years at the firm. (Javier was born in Spain.)

In the Global Markets section – which includes the areas of fixed income, commodities, currencies and Selling and trading stocks – They were promoted Michelle Doriapresident Prime brokerage for Latin America; Nelson Armbrusthead of the derivatives division serving domestic clients, what Goldman internally calls its “northbound business”; Thiago Marinheiro, from the local interests office; that it Alexander Nuneswho has been with the company for 13 years and holds the position Middle office Known as “Strats”, this is an area that uses technology to create its own instruments commerce And to other areas of the bank.

Promotions to CEO and selection of new partners occur every two years at Goldman — with operations staggered.

The selection of six people in São Paulo this year replicates the number of people promoted in 2021, which is a high number for the São Paulo office; In previous years, Goldman Sachs always promoted only two or three executives.

This year’s promotions come at a time when Goldman is losing talent globally; The bank is facing eight consecutive quarters of declining profits, and has abandoned its reduction strategy Bank customer After losing money, CEO David Solomon’s leadership was questioned internally.

The 2021 class was the largest in Goldman’s history, with 643 executives promoted to CEOs globally. However, this year’s class is still much larger than previous classes, before the pandemic. (In 2019, for example, there were 465 upgrades.)

In 2021, Goldman promoted Cathia Autori (Chief Compliance Officer), Tomas Silva (Investment Banking), Pedro Mozzi (Investment Banking), Joel Shimchak (Investment Banking), Fabiano Ribeiro (Emerging Markets Sales), and Carlos Loureiro ( stock trading).