Bloomberg News

Goldman Sachs Says Luca Ferrari, Adviser to Xstrata, Retires

February 28, 2012

(Updates with information from memo in second paragraph.)

Feb. 23 (Bloomberg) -- Goldman Sachs Group Inc.’s Luca Ferrari, an investment banker to Xstrata Plc on its proposed merger with Glencore International Plc, is leaving the company after 12 years.

Ferrari, a managing director based in London and head of Northern European M&A at the firm, joined from UBS Warburg in 2000. He was named a partner in 2006, according to an internal memo seen by Bloomberg News and confirmed by a spokeswoman in London today.

His exit is the third by a senior banker in the investment bank this month. Goldman Sachs said that George Mattson, head of the industrials investment-banking group, was leaving the firm. Jeffrey Moslow, a partner based in New York, will also leave the company according to a memo.

Ferrari’s clients have included Telefonica SA, Spain’s largest telephone company. New York-based Goldman Sachs is the top ranked merger adviser this year, according to data compiled by Bloomberg.

Glencore, the world’s largest publicly traded commodity trader, plans to combine with Xstrata’s coal and copper mines to create a business with $209 billion in sales, the companies said on Feb. 7. The takeover would be the biggest-ever mining deal if completed and would form a commodities supplier to challenge BHP Billiton Ltd. and Rio Tinto Group.

--With assistance from Christine Harper in New York. Editors: Francis Harris, Jon Menon

To contact the reporters on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net; Gavin Finch in London at gfinch@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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