Goldman Sachs Group Inc. (GS:US), the fifth-largest U.S. bank by assets, named Dan Dees co-head of the global technology, media and telecom group and shuffled managers in its Asia-Pacific operations.
George Lee, current head of the TMT group, will become the unit’s chairman, as well as chief information officer for the investment banking division, the New York-based firm said yesterday in memos to the staff. David Wells, a spokesman for the company, confirmed the authenticity of the memos.
Dees will move from Hong Kong to San Francisco and become co-head of TMT alongside Anthony Noto. A former Internet analyst and chief financial officer of the National Football League, Noto works out of New York. He helped Goldman Sachs win the lead underwriting spot on last year’s initial public offering of Twitter Inc.
Dees and Noto will run a group that ranked first in advising technology, media and telecom companies on mergers and acquisitions. Those industries accounted for more than a quarter of deal volume last year, according to data compiled by Bloomberg.
“The TMT sectors continue to evolve rapidly on a global basis and present significant strategic opportunities for our clients and for the firm,” Richard J. Gnodde, David Solomon and John S. Weinberg, Goldman Sachs’s co-heads of investment banking, said in a memo.
Dees, who was named a partner in 2004, has been co-head of the investment banking division for Asia-Pacific excluding Japan and chairman of the financing group in Japan. He previously led the financing group in Asia.
Matthew Westerman will become sole head of the investment banking division in Asia Pacific excluding Japan following Dees’ move to the U.S.
Andrea Vella and Jonathan Penkin will become co-heads of the financing group in that region. Anthony Miller will move from Sydney to Hong Kong to become head of investment banking solutions for the unit, the firm said.
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