By Selena Li
HONG KONG (Reuters) -Goldman Sachs is merging three Asian investment banking businesses it previously managed separately into a single unit to integrate its regional deals advisory and capital market capabilities, according to a memo reviewed by Reuters.
Iain Drayton, head of the Wall Street bank’s investment banking business in Asia excluding Japan, will lead the integrated Asia Pacific investment banking unit, said the internal memo issued on Thursday.
A bank spokesperson confirmed the memo’s content.
“This structure will enable more holistic client engagement, more effective deployment of global and regional expertise, and increased career opportunities for our people,” Goldman Sachs said in the memo.
In the new role, Drayton will work closely with Yoshihiko Yano and Shogo Matsuzawa, co-heads of investment banking in Japan, and Nick Sims and Zac Fletcher, co-heads of corporate advisory in Australia and New Zealand, the memo said.
A Goldman Sachs veteran, Drayton joined the firm in Tokyo as a managing director in 2006, relocated to Hong Kong in 2010, and was named a partner in 2014.
Goldman Sachs ranks at the top of the Asia Pacific equity capital market league table this year, according to Dealogic data.
(Reporting by Selena Li; Editing by Sumeet Chatterjee, Jacqueline Wong and Kate Mayberry)
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