HONG KONG (Reuters) - Goldman Sachs has relocated Andrew Wolff to London to head its European merchant banking division, following recent retirements, according to an internal memo seen by Reuters.
Stephanie Hui, a 12-year veteran of the merchant bank in Asia, has been promoted to head the Asia Pacific ex-Japan merchant banking business, reporting to Wolff.
Wolff, who headed the bank’s Asia Pacific merchant bank from 2004, and before that was with the merchant bank in New York for six years, will also co-head the Asia Pacific region with Tokyo-based Ankur Sahu.
Wolff will sit on the bank’s European and Asia Pacific management committees, while Sahu will take responsibility for Japan and India.
Goldman confirmed the content of the memo.
Hui played a lead role in the bank’s investments in ICBC (601398.SS) and in drugmaking company Shenzhen Hepalink Pharmaceutical Co 002399.SZ.
Goldman invested $4.9 million for 12.5 percent of Hepalink in 2007, and reaped a 200-fold return at the IPO price in 2010.
Reporting by Stephen Aldred; Editing by Ramya Venugopal