MARKETS SPECTATOR: Goldman's senior retreat

Simon Greenaway, head of cash equities, is the latest executive to abandon Goldman Sachs, joining a fast-growing list of outgoing senior employees.

Goldman Sachs is losing another senior executive in its Australian business.

Simon Greenaway, a managing director who joined the firm in 1987, will leave at the end of the month. Greenaway was recently head of cash equities and has worked in equity capital markets syndication and global equity sales.

Wall Street’s most prestigious firm this year has suffered the retirement, relocation or resignation of several senior personnel down under. Head of equity capital markets, Mike Everett, his second-in-charge, Rob Penney, and the bank’s head of sales trading, Duncan Adam, have all retired.

Hugh Falcon left Goldman Sachs to return to Macquarie Group as co-head of equity capital markets. Rhys Gwyn, a former managing director and head of fixed income, currencies and commodities, left Goldman Sachs after two decades to work at Investec, a South African investment bank.

Goldman managing director Nick Sims is now the sole head of the firm’s takeover advisory business in Australia. Sims is to take over responsibility of the Wall Street firms’ M&A unit in the antipodes as co-head of the business while managing director Ruben Bhagobati will go to Singapore to head Goldman Sachs’ M&A business in south-east Asia.

Zac Fletcher, a managing director heading retail company coverage in Australia, will take up the additional responsibility of covering health care companies following Bhagobati’s departure to Asia.

Goldman Sachs has about 600 staff in Australia and New Zealand of which about 110 are working in investment banking.

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