Goldman Sachs Group Inc. named former Australian treasurer Josh Frydenberg chairman of its Australia and New Zealand business.
(Bloomberg) — Goldman Sachs Group Inc. named former Australian treasurer Josh Frydenberg chairman of its Australia and New Zealand business.
“In this role, Josh will focus on further deepening and strengthening client coverage across the A/NZ region. He will continue to offer advice on economic and geopolitical issues as the firm’s senior regional advisor for Asia Pacific,” banking chiefs Simon Rothery and Kevin Sneader wrote to staff Wednesday in a memo obtained by Bloomberg News.
A spokesperson for the firm confirmed the contents of the letter.
Frydenberg replaces veteran Australia Goldman investment banker Christian Johnson, who retired in March after a long career as a dealmaker. The elevation is likely to nix some public expectations that the 52-year-old Frydenberg may still harbor further political ambitions, after commonly being tipped for leadership of the Liberal National Party before its coalition lost re-election in 2022.
Read more: Goldman’s Australia and New Zealand Chair Johnston to Retire
Frydenberg joined the firm as a senior regional adviser for the Asia-Pacific region in July of last year, two months after the conservative government lost office and he was voted out of his electoral district. He worked at Deutsche Bank AG prior to being elected to parliament in 2010.
Before becoming federal treasurer, Frydenberg served in a number of senior roles including environment and energy minister.
(Adds background on political career.)
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