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Goldman Sachs securities chiefs to leave firm - memo


(Reuters) - Two co-heads of Goldman Sachs' securities division - and - will retire next month after 20-year stints at the Wall Street bank, according to an internal memo seen by

The departures leave as the unit's sole A source familiar with the matter said Goldman has no immediate plans to appoint new division heads.

Ealet joined the as a in 1991. Salame joined in 1996 and became in 2008.

Ealet and Salame were occasionally touted as potential candidates for the But after a long-running succession race resulted in Executive Officer highlighting as his choice, their future appeared less certain.

Goldman has been overhauling its trading business, which includes equities trading and fixed income, after one of its worst years on record.

Blankfein as well as other top executives have told investors that the is looking to increase trading revenue by leveraging the relationships investment bankers already have with corporate clients.

Goldman shares were up 1 percent at $245.50.

(Reporting By and in Bengaluru; Editing by and Sai Sachin Ravikumar)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 14 2018. 22:02 IST