Goldman Sachs to merge all Asia-Pacific investment banking businesses
Bank says move will ‘enable more holistic client engagement, more effective deployment of global and regional expertise’
The US firm was combining its teams in Japan, Australia and New Zealand, and Asia excluding Japan to form a unified regional investment banking business, led by Iain Drayton, said the memo, which a spokesperson confirmed was genuine.
“This structure will enable more holistic client engagement, more effective deployment of global and regional expertise, and increased career opportunities for our people,” the memo said.
Drayton, currently the head of investment banking for Asia, ex-Japan, was expected to work closely with Yoshihiko Yano and Shogo Matsuzawa, the co-heads of investment banking in Japan, as well as Nick Sims and Zac Fletcher, co-heads of corporate advisory in Australia and New Zealand.
In 2006, Drayton joined Goldman in Tokyo as a managing director. He relocated to Hong Kong in 2010 and was named partner in 2014.
The bank has topped the Asia-Pacific equity capital market league table this year, according to data compiled by Dealogic. It captured a 12 per cent market share by arranging 32 deals totalling US$9.8 billion. Its American rivals JPMorgan Chase and Morgan Stanley came in second and third.