HONG KONG – Goldman Sachs is ramping up its mergers and acquisitions team in Asia amid a surge in deal volume in the region, according to an internal memo sent on Thursday.
As part of a reshuffling, the bank appointed Richard Campbell-Breeden to the newly created position of vice chairman of the investment banking division for Asia, excluding Japan. Mr. Campbell-Breeden, who has been at the bank since 1989, had been the head of deal-making in the region since 2011.
Mr. Campbell-Breeden will be succeeded by John Kim, who will relocate to Hong Kong from Seoul. Mr. Kim, a 14-year veteran of Goldman, had served most recently as its co-country head for South Korea since 2007.
Mergers and acquisitions involving target companies in Asia, excluding Japan, rose 76 percent, to a record $146.7 billion, in the first quarter from the period a year earlier, according to data from Dealogic.
The memo also said that Christos Tomaras, currently Goldman’s head of mergers and acquisitions in Europe, would relocate to Hong Kong from London to join the deal-making team in Asia.
New York Times