South African To Co-Head Goldman Sachs Investment Banking

17 May 2011

Goldman Sachs employees were told yesterday that Richard Gnodde is the new co-head of investment banking along with David Solomon and John Weinberg. Gnodde, who was born in Johannesburg, joined the firm back in 1987 and is said to have been critical to Goldman’s European acquisitions and mergers business.
The 51 year old Gnodde was born in Johannesburg in 1960 and attained his undergraduate degree at the University of Cape Town. He went on to complete a master’s degree in law at Cambridge University before beginning his march to the top at Goldman.
It’s said his South African background has left him with a love of rugby and the passion for the provision of education for underprivileged children.
Business Insider was kind enough to note the highlights of Gnodde’s career so far:

Richard was appointed co-head of the firm’s Investment Banking Division in Japan in 1997, helping Goldman Sachs achieve its preeminent position in the Japanese investment banking market.
He became president of Goldman Sachs (Singapore) Pte. and co-head of Investment Banking in Asia in 1999, before moving to Hong Kong that same year to become President of Goldman Sachs (Asia) LLC. Richard played a leading role in expanding the firm’s overall Asian footprint including securing access to China’s securities markets.
In January 2005, Richard returned to London as vice chairman, and in July 2006 assumed his current position [as co-chief executive officer of Goldman Sachs International].

Along the way Gnodde has aligned himself with some big players and made some powerful friends, amongst them billionaire and steel titan Lakshmi Mittal, whom Gnodde advised during his £17billion bid for the European producer Arcelor. There’s also Mervyn King and former BP chairman Lord Browne of Madingley.
Gnodde is a burly figure cutting it at six-foot-four and has been rumoured to be have served in the South African secret service. These rumours are apparently untrue, but he did serve in the navy as part of his national service.
[Source: BusinessInsider]