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Banks

Goldman Sachs names new co-COO of global TMT banking: memo

FILE PHOTO: The Goldman Sachs company logo is seen in the company's space on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., April 17, 2018. REUTERS/Brendan McDermid

(Reuters) - Goldman Sachs Group promoted Barry O’Brien to co-chief operating officer of its global tech, telecom and media investment (TMT) banking team, according to a memo seen by Reuters on Wednesday.

O’Brien, formerly co-head of the bank’s TMT M&A team, will hold the role with Jung Min, Goldman Sachs global head of TMT Nick Giovanni wrote in the memo to staff, the contents of which were confirmed by a bank spokesperson.

O’Brien, 43, joined Goldman Sachs in 2000 and was named partner in 2018. A Irish native and marathon runner, he has worked on major tech and media deals, including the $7.3 billion Grubhub sale to Just Eat Takeaway earlier this year and the Match.com spin-off from IAC.

He will replace Kim Posnett, who was named co-head of global investment banking services unit earlier this week as the first woman to fill the role. Based in New York, O’Brien will report to Giovanni.

Global tech M&A business has been booming during the pandemic and rising to the highest level since 2000. Goldman Sachs captured 34.6% of global market share for tech deals this year, according to Refinitiv data.

(This story corrects to add a dropped word in second paragraph)

Reporting by Krystal Hu; Editing by Marguerita Choy

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