April 8, 2019 / 1:37 PM / 2 months ago

Goldman Sachs' investment bank consumer, retail group head to step down

FILE PHOTO: A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid/File Photo

NEW YORK (Reuters) - Goldman Sachs Group Inc’s global head of the investment bank’s consumer and retail group, Rob Sweeney, will step down at the end of April, according to an internal memo seen by Reuters.

Stephan Feldgoise, co-head of mergers and acquisitions in the Americas, will replace Sweeney as head of the investment banking team, which advises consumer facing-companies.

Sweeney is leaving to join an unnamed private equity firm, according to a source familiar with his plans.

Under Sweeney’s leadership, Goldman’s consumer and retail group ranked No. 1 in several global league tables last year.

He advised General Mills Inc on its 2018 acquisition of Blue Buffalo and Yum! Brands Inc on the separation of its China business. He also led the initial public offerings for Under Armour Inc, Lululemon Athletica Inc and Canada Goose Holdings.

Feldgoise, who will maintain his current duties as co-head of mergers and acquisitions in the Americas, will be tasked with keeping the global consumer and retail group at No. 1, deepening client relationships and developing a global team, according to the memo signed by the heads of the investment bank, Gregg Lemkau, Dan Dees and Marc Nachmann.

Feldgoise is known for his work advising on the merger of U.S. drugstore chain Walgreens with the European group Alliance Boots Holdings Ltd. He also advised on Westlake Chemical Corp’s 2016 acquisition of Axiall Corp and Tesoro Corp’s $4.1 billion purchase of Western Refining Inc.

Feldgoise, who joined Goldman Sachs in 1997, was previously a senior member of the consumer retail group. As leader of the group, he will also join the investment banking division’s executive committee.

Reporting By Elizabeth Dilts; Editing by David Gregorio and Steve Orlofsky

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