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Goldman Sachs loses Asia managing director

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Goldman Sachs executive Carlos Cordeiro will retire as a managing director at the end of the month but will remain as an advisory director and vice-chairman for the United States investment bank's Asian operations.

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Since coming to Hong Kong in 1996, Mr Cordeiro has mostly been involved in building the fixed-income franchise.

Goldman has dominated bond underwriting and distribution in Mr Cordeiro's time, including sovereign deals for South Korea and China and corporate issues from firms including Mass Transit Railway Corp, Hutchison Whampoa, Hongkong Land Holdings and Development Bank of Singapore.

Mr Cordeiro joined Goldman's capital markets in London in 1990 and became a partner in 1992. Goldman Sachs Asia president Richard Gnodde described Mr Cordeiro as having 'integrity . . . and impeccable judgment'.

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