November 16, 2020

Goldman investment bank co-head Gregg Lemkau quits for Dell fund

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.

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Top Goldman dealmaker Gregg Lemkau is leaving the bank at year-end

Gregg Lemkau, co-head of investment banking for Goldman Sachs & Co.

Christopher Goodney | Bloomberg | Getty Images

Goldman Sachs is losing one of its top dealmakers.

Gregg Lemkau, a nearly-three decade veteran of the bank and co-head of its powerhouse investment banking division, is leaving Goldman at the end of the year, according to an internal memo sent Monday from CEO David Solomon. Lemkau is joining MSD Partners, the $15 billion family office for Michael Dell, in February, according to a release.

Lemkau, known as one of the top mergers bankers on Wall Street, has advised on hundreds of transactions since joining the bank in 1992.

“Please join me in thanking Gregg for his many contributions to the firm, our clients and our people, and in wishing him and his family the very best in the years ahead,” Solomon said in the memo.

Here’s the full memo from Solomon:

Gregg Lemkau to Retire From Goldman Sachs

Gregg Lemkau, co-head of the Investment Banking Division (IBD) and a member of the Management Committee, will retire from the firm at the end of the year.

As co-head of IBD, Gregg has helped lead our efforts to continue to solidify and

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