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Friday, December 02, 2011

Goldman's McNamara Answers to a New Boss

Reported by Hung Tran

Ed Forst, global co-head of Goldman Sachs' [profile] investment management division, is retiring from the company at the end of the year. Eric Lane will be the new co-head alongside Tim O'Neill.

Goldman Sachs Asset Management's third-party distribution head, Jim McNamara, will report to Lane and O'Neill, a Goldman spokesperson told The MFWire.com.

The New York Times' DealBook published memos penned by Goldman Sachs chairman and CEO Lloyd Blankfein and president and COO Gary Cohn on Forst's retirement and Lane's appointment. Reuters also covered the news.

Forst started his Goldman career in 1994 in the capital markets group. He became co-head of the investment management division in 2007. A year later, he left Goldman to join Harvard University, where he served as executive vice president. Forst rejoined Goldman in 2009 and in 2010 was appointed co-head of the investment management unit alongside O'Neill.

Lane joined Goldman in 1996 and since 2009 has served as the investment management unit's chief operating officer. 

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