Goldman Sachs Group, Inc. (GS) is making strategic moves to bolster its investment banking capabilities. The financial giant has reportedly hired Matt Beitzel, a veteran investment banker who previously led Citigroup’s North American banks coverage, as a partner in its financial institutions group. Beitzel will join Goldman Sachs in November after a period of gardening leave. In his new role, he will be responsible for spearheading Goldman’s dealmaking efforts with banks and financial services firms across the Americas.
This hire is part of a series of recent leadership changes within Goldman Sachs’ investment banking team. In July, the bank made several senior appointments, including the appointment of former JPMorgan banker Carsten Woehrn as joint co-head of M&A in EMEA. Goldman Sachs also welcomed back Haidee Lee as global co-head of Sponsor M&A.
Earlier this month, Goldman Sachs reportedly agreed to sell Blanchardstown Centre, Ireland’s largest shopping mall, to credit firm Strategic Value Partners. This move highlights the bank’s ongoing efforts to optimize its portfolio and capitalize on strategic opportunities.
Investors interested in gaining exposure to Goldman Sachs can consider ETFs like iShares U.S. Broker-Dealers & Securities Exchanges ETF (IAI) and Invesco KBW Bank ETF (KBWB).
As of Tuesday, Goldman Sachs shares were down 0.88% at $500.25. The bank’s strategic hiring decisions and recent transactions suggest a focus on expansion and growth within the investment banking sector.
