Gregg Lemkau, the co-head of investment banking at Goldman Sachs who was seen as a potential future chief executive, is leaving the bank after almost three decades to join Michael Dell’s family office, people familiar with the move said.
The mergers and acquisitions banker, who joined Goldman as an analyst in 1992 and went on to take a number of leadership positions, is moving to MSD Capital, the investment firm that manages the computing entrepreneur’s wealth.
Mr Lemkau’s departure is part of a broader shift at Goldman, which has seen executives in its financing division rise up the ranks to take up top jobs in the investment banking division, an area previously dominated by mergers and acquisitions bankers.
Jim Esposito, co-head of the global securities division, will replace Mr Lemkau at the start of 2021, according to a memo sent to the staff by Goldman’s chief executive David Solomon. Mr Esposito will work along with Dan Dees, who has been co-head of the investment banking unit since 2018.