Goldman Sachs Group Inc. has named Kim Posnett global head of its technology, media and telecommunications investment banking group, according to a company memo.
(Bloomberg) — Goldman Sachs Group Inc. has named Kim Posnett global head of its technology, media and telecommunications investment banking group, according to a company memo.
A veteran dealmaker whose recent work includes Endeavor Group Holdings Inc.’s $9.3 billion takeover of World Wrestling Entertainment Inc., Posnett had been global head of the firm’s investment banking services unit. She will continue serving as co-head of the so-called ‘One Goldman Sachs’ initiative, an effort within the lender to break down silos between product lines with clients.
Former TMT co-head Sam Britton will become a co-chairman of the unit, according to the memo. Britton’s co-head Matt Gibson moved to a key role in asset management earlier this year.
Posnett, who joined the firm in 2005, is returning to the TMT group where she had earlier been the co-chief operating officer of the sector team and head of its global internet business. She recently worked on Twitter Inc.’s $44 billion sale to Elon Musk, last year’s fifth biggest M&A deal.
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“She is incredibly charismatic and her clients love her,” said Gregg Lemkau, the former head of Goldman Sachs’s investment-banking juggernaut. “TMT is one of the great franchises at Goldman and I expect her to continue to do bigger things at the firm.”
In her new role, Posnett will work closely with Goldman Sachs’s global team of TMT partners, including Barry O’Brien and Jung Min.
Aasem Khalil will become global head of investment banking services, according to a separate company memo. In addition to taking on Posnett’s former role, Khalil will continue as head of the firm’s Dallas office and head of investment banking in Latin America, the memo shows.
Posnett’s appointment makes her one of the highest-ranking women in TMT advisory roles, coming a month after Kristin Roth DeClark was named Barclays Plc’s global head of technology investment banking. Goldman Sachs’s intake of 80 new partners in November was its most diverse ever in terms of female and Black representation, the firm said at the time.
Goldman Sachs reported investment banking revenue of $1.58 billion in the first quarter, roughly in line with estimates and down 26% from a year earlier. Muted activity in capital markets has impacted firms including Goldman Sachs as companies seek to ride out volatility, depressing fees.
–With assistance from Sridhar Natarajan.
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