Advertisement
Goldman Sachs hires ousted McKinsey head Kevin Sneader for top Asia-Pacific role
- Kevin Sneader will serve as co-president for Asia-Pacific, excluding Japan
- Sneader was not reelected as McKinsey’s global managing partner in February
Reading Time:2 minutes
Why you can trust SCMP
2
Goldman Sachs said on Thursday that it had hired Kevin Sneader, the former top executive at consulting firm McKinsey & Co who was ousted earlier this year, as its new co-president for Asia-Pacific, excluding Japan.
Sneader, 54, joins Goldman after 32 years at McKinsey and will serve alongside Todd Leland. He will relocate to Hong Kong later this year after being based here from 1996 to 1998 and from 2014 to 2020.
In his new role, Sneader will be responsible for overseeing Goldman’s ambitious expansion plans in the region, particularly in China. He will also serve on Goldman’s management committee.
Advertisement
“The Asia-Pacific region continues to represent exciting growth opportunities for Goldman Sachs,” David Solomon, Goldman’s chairman and CEO, said in a statement. “Kevin’s international and Asia experience, and his deep relationships with global and Asian clients in multiple industries, will contribute significantly as we execute our strategy.”
10:01
Hong Kong can't miss Greater Bay Area boat in post-Covid-19 recovery, Victor Fung of Fung Group says
Hong Kong can't miss Greater Bay Area boat in post-Covid-19 recovery, Victor Fung of Fung Group says
In May, Goldman won approval from Chinese regulators to form a wealth management joint venture with state-owned Industrial and Commercial Bank of China (ICBC). The American investment bank also plans to hire more than 400 employees in Hong Kong and mainland China. It also reached an agreement in December with its Chinese partner Beijing Gao Hua Securities to take 100 per cent control of its mainland securities joint venture.
Advertisement
Asia accounted for 14 per cent of Goldman’s revenue in 2020, or US$6.2 billion, and 3 per cent of its pre-tax profit, or US$419 million.
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x