Goldman Sachs has snapped up a Bank of America dealmaker to build up its industrials team as it seeks to win more business in one of the sectors hardest-hit by the coronavirus outbreak, three sources told Reuters.
) dealmaker to build up its industrials team as it seeks to win more business in one of the sectors hardest-hit by the coronavirus outbreak, three sources told Reuters.
The Wall Street bank has hired Diego Fortunati as a managing director looking after industrials mergers and acquisitions across Europe, the Middle East and Africa, the sources said, speaking on condition of anonymity as the matter is private.Goldman’s move to bet on M&A comes amid a drought in deal-making as companies are still gauging the devastating economic effects of the pandemic and seeking emergency aid to withstand a coronavirus-related cash drain.
The number of deals also fell 20% year-on-year and last week, for the first time of any week since September 2004, there were no merger and acquisition deals worth more than $1 billion announced worldwide. His appointment plugs a gap in Goldman’s wider M&A team after its EMEA financial sponsors M&A head, Antonio Gatti, recently quit to join private equity fund Investindustrial.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In Race for Small-Business Loans, Winning Hinged on Where Firms BankThe small businesses that received government aid weren’t always the ones with the greatest needs or the best chances to survive the pandemic.
Read more »
US markets haven't priced in a 'significant second wave' of coronavirus, says Citi Private BankDavid Bailin, chief investment officer at Citi Private Bank, said company earnings could fall by 40% 'across the board' in the second quarter.
Read more »
Mile-Long Food Bank Car Lines Between Luxury Hotels in MiamiThe juxtaposition of a mile-long line of cars waiting for a food bank next to two luxury hotels ain't great.
Read more »
An ethnic militia with daring tactics is humiliating Myanmar’s armySome see the Arakan Army as the most serious insurgency since Myanmar's independence
Read more »
Here‘s More Evidence That Mindfulness Is Worth the EffortStaying in the present can help you age better and boost your overall health, research suggests.
Read more »