Hong Kong Nov 12 The head of Goldman Sachs
Group Inc's Southeast Asian operations is set to step
down and move to a new position as an advisory director for the
bank at the end of the year, according to company memo obtained
Goldman has not yet named a new Southeast Asia chairman to
succeed L. Brooks Entwistle, 45, who is known for his work in
establishing Goldman Sachs' Indian business, a process he began
when he moved to Mumbai in 2006.
Entwistle remained in Mumbai as India country head until
early 2011 when he moved to Singapore.
Southeast Asia has become increasingly important for
investment banks as deal volume in the region booms while
activity for other regions wanes. Goldman Sachs relocated
high-profile capital markets banker Steven Barg to Singapore in
July to become co-head of investment banking Southeast Asia,
alongside Hsin Yue Yong.
A spokesman for the bank confirmed the contents of the memo.