NEW YORK, May 15 (Reuters) – Goldman Sachs (GS.N), opens new tab told Reuters it has hired two investment bankers from rival banks as part of a push to advise on more smaller deals worth up to $2 billion.
The Wall Street investment bank has hired Kerry Burke from Evercore (EVR.N), opens new tab and Eddie Rubin from Lazard (LAZ.N), opens new tab. Burke, who focused on the retail and apparel sectors at Evercore, will join Goldman in August, while Rubin, who advises on deals in the digital infrastructure industry, joined the bank in April.
Best known for its advisory work on mega deals, Goldman has in recent years been working to expand in so-called middle-market transactions to boost and diversify its revenue.
Goldman set up the unit, called the cross markets group (CMG), in 2019 and tasked veteran banker David Friedland to run it, as the bank sought to increase its share of fees from advising on smaller acquisitions.
“Our people who are doing middle-market deals are excited about the entrepreneurial aspect of the business – they deal with family-owned businesses, founder-run businesses, sponsor portfolio companies and companies that are growing rapidly. This is all highly attractive business for GS,” said Friedland, who is a partner at Goldman.
Source: REUTER
