Goldman Sachs Group, Inc. has appointed Stephan Feldgoise and Mark Sorrell as the new co-heads of the company's global Mergers and Acquisitions (M&A) unit.
Feldgoise and Sorrell will be joining co-chairman Tim Ingrassia and co-chairman as well as chairman of global technology, media and telecommunications investment banking, Gene Sykes in the M&A unit.
The appointment of the co-heads comes at a time when M&A is taking a hit due to the global pandemic. Bloomberg reported that global M&A volume is down 47% this year. Goldman’s financial advisory fees, which include M&A, were also down 11 per cent year-on-year in the second quarter. Despite the struggles, the company is confident in Feldoise and Sorrell to grow M&A transactions.
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