Goldman Sachs has appointed Joe Fayyad and Zac Fletcher as co-heads of investment banking services division in Australia and New Zealand, according to an internal memo seen by FinanceAsia.
In addition to Fayyad and Fletcher, several new team heads were named in the bank's revised Australian line-up, including Brendan Lee, who will assume leadership of the technology, media, telecommunications team.
Adam Gregory and Chris Mills, meanwhile, will become the new co-heads of the consumer, retail and healthcare industries team.
In their new shared role, Fayyad and Fletcher will "leverage their leading client coverage skills across all industry groups as well as driving client service and marketing initiatives across the entire division," the memo said.
It went on to note that the two would remain "heavily involved with their existing clients" and continue to "focus on mentoring and career development for junior bankers".
Succession and mentoring were themes that ran through the internal Goldman memo.
"These appointments," it said "...recognise the strength and depth of our team as well as underscoring our constant focus on improving our competitive positioning in the market and providing career advancement opportunities for our people. "
Fletcher's page on the LinkedIn professional network indicated a affiliation with JBWere, a Goldman Sach's funded investment advisory in Australia.
Goldman Sachs Austalia noted that Nick Jacobson, a senior member of the investment banking services team Down Under, will work closely with Fayyad and Fletcher in the new role but will maintain his position as chairman of the real estate industry team.
In a separate move related to the bank's business in Perth, Peter Watson has been named head of metals and mining within the natural resources industry team -- a critical role, given the region's vast desposits of mineral wealth.
The promotions of sector bankers Fayyad and Fletcher were triggered by the retirement and departure of several senoir bankers, according to reports in local media.
