Goldman Sachs to Appoint New ECM Head
(07 July 2020 – Australia) Goldman Sachs is set to announce Ian Taylor as its new head of equity capital markets (ECM).
The investment bank is expected to offer New York-based Australian Ian Taylor the role following the surprise resignation of former ECM Head Sarah Rennie to join New Zealand-based investment and advisory firm Jarden as the group seeks to establish Australian operations.
The firm featured on 19 ECM deals worth a total of US$2.9 billion, including major raisings such as NAB’s A$3.5 billion cash call in April and leading buy now pay later (BNPL) provider Afterpay's A$1.05 billion raising. The pandemic response raising rush highlighted in East & Partners recent IB research note series will face pressure to maintain the frantic activity as Australian corporates plot a differing path to their international counterparts who preferred to raise fresh debt.
Mr Taylor will report to Goldman Sachs Australia & New Zealand CEO Simon Rothery following his previous role heading up Galaxy Digital’s plans to push into cryptocurrency underwriting following an 18 year tenure with Goldman Sachs. Mr Rothery has been personally pitching with the bank's ECM team following Rennie's departure. Mr Taylor will work alongside Goldman Sach’s longtime ECM Executive Director Aaron Lamshed and Syndicate Head Jack Anstey.
“The immediate pandemic response rush of raisings will likely face headwinds through H2 2020, marking the announcement of an experienced leader in Mr Taylor as notable given rising competition in the sector” stated East & Partners Head of Markets Analysis Martin Smith
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