March 28, 2017 / 9:55 PM / in a year

MOVES-Goldman Sachs names new heads of financial restructuring

NEW YORK, March 28 (Reuters) - Goldman Sachs Group Inc has named managing director Greg Berube head of restructuring in the Americas, and managing director Clinton Ray head of restructuring in Europe, the Middle East and Asia, the investment bank confirmed on Tuesday.

The pair is replacing Roopesh Shah, Goldman Sachs’ former global head of restructuring, who is moving to boutique investment bank Evercore Partners Inc.

There has been a re-shuffling of restructuring bankers at big investment banks in recent months. Reuters reported last week that Mark Cohen, the head of restructuring finance at Deutsche Bank AG, will join Royal Bank of Canada as head of its U.S. capital solutions group. Deutsche Bank and RBC declined to comment on the report, based on interviews with people familiar with the matter.

Berube is tasked with building the bank’s restructuring advisory business targeting its corporate and private equity clients facing financially distressed situations, according to an internal memo circulated within the bank last month.

Berube joined Goldman Sachs as an analyst in 2004 in the leveraged finance capital markets team in New York, later moved to London to join the Europe, Middle East and Asia capital markets team, and then in 2007 returned to New York, according to the memo.

Before joining Goldman Sachs last year, Ray worked as a managing director at Morgan Stanley for nearly ten years, according to his LinkedIn profile. He also worked as a lawyer at British law firm Clifford Chance LLP. (Reporting by Jessica DiNapoli in New York; Editing by David Gregorio)

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