Salisbury’s move to Sixth Street piles more pressure on Goldman’s ambitions
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Opinion

Salisbury’s move to Sixth Street piles more pressure on Goldman’s ambitions

Goldman Sachs is losing a key executive in the very business it is relying on to turn the firm's fortunes around.

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Julian Salisbury’s jump across from Goldman Sachs to investment firm Sixth Street Partners reunites the departing chief investment officer (CIO) of Goldman’s asset and wealth management business with a number of former colleagues.

Among those are Sixth Street’s chief executive, Alan Waxman, who was at Goldman for 20 years before founding Sixth Street in 2009 and was one of the driving forces behind Goldman’s principal investment businesses. Marty Chavez, who joined Sixth Street as partner and vice chair in May 2021, was at Goldman – with one break – from 1993 until 2019, including serving as the firm’s chief financial officer.

Salisbury’s departure hits Goldman where it hurts because chief executive David Solomon is relying on the firm’s asset management business to help turn around the group’s fortunes after a series of mis-steps in consumer finance.

Euromoney has noted before that Salisbury is an impressive operator. Even though Goldman is doing the usual and playing down his departure as just one of those things, it will surely regret losing him.

The bits where Salisbury was operating are doing a lot better than most others right now

Goldman’s recent reorganisation of its reporting segment structure makes precise historic comparisons tricky.

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