Goldman merging consumer retail and health care investment banking groups
Just saw this on Dealbook...thoughts? Does this mean a smaller group?
http://dealbook.nytimes.com/2014/06/25/goldman-sachs-overhauls-investme…
“This change brings together a strong group of talented bankers who can be deployed more widely across a broader client base,” the three heads of investment banking, Richard J. Gnodde, David Solomon and John S. Weinberg, wrote in the memo. “This will allow us to better serve the strategic and financing needs of our consumer retail and health care clients across geographies as we see growing convergence between subsectors.”
I hope they conducted an analysis on the synergies of the post merger structure...
I don't get the rationale. If each of the groups are seeing increasing deal flow, why merge them and consolidate resources? Why not expand each individually?
I understand the cost cutting point of view, but if they keep getting mandated, I just cannot seem to figure out why they want to merge them...
bump
Ever heard of Johnson and Johnson?
Politics.
UBS did the same a few months ago.
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