Premier eFinance: Goldman Sachs names new UK investment banking heads.

May 23, 2011 - PRLog -- Premier eFinance has learned that Anthony Gutman and Mark Sorrell have been named by Goldman Sachs as new co-heads of its UK investment banking unit, succeeding Julian Metherell.

According to a recent internal memo to employees Richard Gnodde, co-chief executive officer of the firm’s European unit said that the two were formerly co-chief operating officers of UK investment banking. A company spokeswoman in London later confirmed the promotions.

Sorrell and Gutman are to replace Julian Metherell who left the company recently to join former BP Plc CEO Tony Hayward’s planned $1.6 billion (£1 billion) energy-investment fund.

Sorrel joined Goldman Sachs in 1994 and is the son of WPP Group Plc Chief Executive Officer Martin Sorrel. He previously headed the European natural resources group. Gutman joined Goldman from Citigroup in 2007 as a managing director advising businesses in the retail sector,Premier eFinance has learned.

The firm is currently revamping the leadership of its investment banking unit after it posted lower first quarter advisory revenue than its competitors, JPMorgan Chase & Co and Morgan Stanley.

Gnodde, 51, was recently named as co-head along with David M. Solomon and John S. Weinberg of the firm’s investment banking division, which includes mergers and acquisitions (M&A), and stock and bond underwriting. The investment banking unit generated $1.27 billion in the first quarter, less than 11% of the company’s total.

Goldman Sachs is the top-ranked M&A advisor for 2011 both globally and in the UK according to recent data from Bloomberg.

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