Goldman Names Michael Carr, Gilberto Pozzi Co-Heads of Global M&A--Update

By Dana Cimilluca 

Goldman Sachs Group Inc. shook up its vaunted mergers-and-acquisitions operation, promoting two bankers at the firm to global co-heads of the group.

Michael Carr and Gilberto Pozzi, heads of M&A in the Americas and the European region, respectively, will join Gregg Lemkau, who already has the global co-head title, according to a memo disseminated internally Thursday.

Making way for the two men is Gene Sykes, currently co-head of global M&A, who is to join a number of others as co-chairman of the group, according to the memo. Mr. Sykes has been at Goldman for 31 years and became a partner in 1992.

While it has been eclipsed in size by other businesses at the big Wall Street firms, M&A is still important, as takeover work brings prestige, fat fees and can be a gateway to other work such underwriting or risk-management services.

Goldman has for years been the dominant bank in merger-advisory. Last year, it was top global deal adviser again, with more than $1 trillion of transactions to its credit in a year when a previously sluggish M&A market came back to life. So far this year, it is also out front, though by a slimmer margin: Goldman has advised on $115.8 billion of deals, compared with $111 billion for J.P. Morgan Chase & Co., which is No. 2.

Mr. Carr, who joined Goldman in 1998 as a partner, has also been head of investment banking for Asia ex-Japan and co-head of Goldman's industrials and natural-resources group.

Mr. Pozzi has also been co-head of Goldman's global consumer-and-retail group. He joined the firm in 1995 and was made partner in 2008.

Neither man's current role will be filled, according to people familiar with the matter.

Write to Dana Cimilluca at [e-mail]

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