December 16, 2019 / 6:55 PM / a month ago

UPDATE 1-MOVES-Goldman Sachs forms new alternative capital markets group

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NEW YORK, Dec 16 (Reuters) - Goldman Sachs Group Inc said on Monday it is forming a new group within its merchant banking division called the alternatives capital markets and strategy group.

The move comes as the bank is ramping up efforts to increase revenue from its alternative investments businesses.

The group will be led by Chris Kojima and Michael Koester, and it will be tasked with raising capital and crafting clients’ strategies for alternative investments throughout the bank, according to a staff memo viewed by Reuters.

“This group will lead the coordination and expansion of our client engagements in alternatives, across both direct investing strategies and open-architecture strategies,” stated the memo, which was signed by Chief Executive David Solomon, President John Waldron and Chief Financial Officer Stephen Scherr.

Kojima was previously the global head of the alternative investments and manager selection (AIMS) group within the consumer and investment management division, as well as the co-chief investment officer for AIMS.

Koester was the chief commercial officer for the merchant bank, where he led strategy and product development, among other things.

It was not immediately clear if Koester and Kojima will continue in their current jobs in addition to running the new group. (Reporting by Elizabeth Dilts Marshall in New York Editing by Matthew Lewis)

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