memo
07/01/2021 21:21
By Krystal Hu
Jan 7 (Reuters) - Goldman Sachs Group Inc GS.N has named
veteran bankers Sam Britton and Matt Gibson to co-lead its
global technology, telecom and media (TMT) franchise, according
to an internal memo released on Thursday and seen by Reuters.
Earlier on Thursday, the former head of global TMT, Nick
Giovanni, announced he was leaving to become chief financial
officer at delivery platform Instacart. urn:newsml:reuters.com:*:nL8N2JI06V
Britton, a seasoned tech banker who has spent over 24 years
at Goldman, has led some of the largest software deals in
history, including Slack's $27.7 billion sale to Salesforce and
IBM’s $34 billion purchase of Red Hat. He will continue to run
the team from San Francisco.
"We're optimistic about the transition because we have a
group of 25 partners now in TMT who have a unifying common
thread of being focused on innovations," Britton said in a
telephone interview alongside Gibson.
Gibson, who previously co-led investment banking client
services since 2015, will be shuttling between New York and the
Bay Area in the new role. A former Navy officer, Gibson started
in the energy group at Goldman, and spent the past few years
serving large-cap clients across industries, including 3M and
Conagra Brands.
"When we leverage the insights of our partners from other
industry groups and other divisions at the firm, we're able to
deliver deeper insights and advice, and capitalize on our global
relationship network for clients. I'd like to bring that
approach to TMT," said Gibson.
Goldman Sachs has been able to maintain its lead in TMT M&A
and IPO in a year when dealmaking and roadshows have largely
gone virtual. The TMT franchise has become a major profit hub
for Goldman's investment banking business, accounting for 29% of
the M&A deals the bank advised in 2020, according to Refinitiv.
(Reporting by Krystal Hu
Editing by Sonya Hepinstall)
((Krystal.Hu@thomsonreuters.com;))