By now it's well known news that Gregg Lemkau is leaving GS to run Michael Dell's investment firm. I'm really curious to hear more about his legacy and experience at GS as he's been hailed as one of the most legendary bankers and is widely credited for GS's TMT success. He doesn't have a wikipedia page and is pretty private for the most part.
In addition, I think it's super important to note that it seems like he was widely liked both internally and by all his clients. How did he balance such a grueling role while being such a good and effective leader?
A main motivator news sources are saying for leaving the firm was that he was not in line to be CEO, at least not immediately. What do you guys think?
Idk but he has great hair/flow vs other top bankers so that's something.
I was also going to mention his hair. That may have been the biggest contributor.
Couldn't have been a GS CEO with that mane
Lmao last three were bald. Agreed.
Boss. Seriously. He referred my resume last year and then just as Covid started he referred a deal I was working on to GS HC.
Class act. Well liked. He'll make far more coin running his own shop (similar to Chuck Davis his predecessor at Stone Point) than GS can offer him. I wish that man all the best and I really want to know how he gets that flow.
I'll also add to this. I'm an alum of GS as well and I think he sees the writing on the wall that M&A will be dead for years after Covid. All these companies piled on debt... you can only be so levered. He was a CEO contender but not anymore so only logical move imo.
M&A dead for years? It's on fire right now. And I think debt load would be a greater issue for cap markets activity than for M&A.
GS securities division was on fire too after 2008 when they made $30B in 09. They in turn destroyed their business for a decade, so sure it’s hot this moment but once it cools off it’s dead for a long while. Gregg was M&A’s biggest advocate within the firm as lending really came to dominate the management committee so speaks volumes this is when he chooses to leave
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