June 15 Goldman Sachs Group disclosed the
departures of three senior executives from its merchant banking
business in the latest top-level reshuffle at the firm, the Wall
Street Journal reported on Friday.
Partners Muneer Satter, Gerald Cardinale and Hughes Lepic
resigned after serving more than 20 years each at Goldman, but
were not pushed out of the firm, the paper quoted people
familiar with the matter as saying.
The Wall Street Journal said the bank disclosed the
departures and some promotions in four internal memos signed by
Richard Friedman, head of the merchant banking unit and a member
of Goldman's managing committee.
Lepic, who is head of the division in Europe, the Middle
East and Africa, plans to leave at the end of August and will be
succeeded by Andrew Wolff, the paper reported.
The WSJ report said the other appointments include Henry
Cornell, who was named vice chairman of the merchant banking
division and Tom Connolly, who will become sole head of the
corporate credit business.
Goldman Sachs could not immediately be reached for comment
outside regular U.S. business hours.