Goldman names investment co-chiefs

Sep 26, 2007 @ 2:30 pm

By Aaron Siegel

Goldman Sachs Group Inc. has promoted Edward Forst to head its investment management business, filling a position that has been vacant since June.

Mr. Forst, formerly executive vice president and chief administrative officer at New York-based Goldman, will head the division with Peter Kraus, according to an internal memo obtained cited in published reports.

He will be based in the London office.

He replaces Eric Schwartz, who worked for Goldman for 23 years, heading the asset management division alongside Mr. Kraus since 2003.

Mr. Schwartz announced his retirement in June, just before the Global Equity Opportunities fund lost 30% in a single week, when $860 billion was wiped from the stock market value of European and U.S. banks, according to a Financial News report.

Mr. Forst has co-headed the firm's operations, technology, finance and services division with David Viniar, and was previously chief of staff of both the equities division and for fixed income, currency and commodities.

Previously, he was co-head of global credit markets.

Mr. Schwartz remains a senior director at the firm.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Stephanie Bogan: How financial advisers can achieve more by reframing their realities

By revaluating the choices they make and the outcomes that result from them, financial advisers can make sure they're properly serving those most important to them — their clients, according to Stephanie Bogan, founder of Educe Inc.

Latest news & opinion

Sen. Gary Peters brings broker background to work every day on Capitol Hill

Michigan Democrat resists ripping up DOL fiduciary rule but would be open to some changes.

DOL fiduciary rule causing DC-plan record keepers to change business with insurance agents

Principal has communicated that independent agents must change their business models to keep receiving compensation.

DOL fiduciary rule opponents want to push implementation back until 2019

ICI, Chamber of Commerce among groups asking for delay, while Democratic lawmakers call on DOL to keep to its earlier planned schedule of Jan. 1, 2018.

Take 5: Vanguard's new CIO Greg Davis talks bonds, stocks and costs

Having just stepped into the role, this veteran of the firm now oversees $3.8 trillion in assets in more than 300 mutual funds and exchange-traded funds.

Tech companies deploy behavioral finance tools for advisers

They seek to turn knowing more about clients into growing more revenue.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print