Goldman Sachs appoints new president for local unit

- Thursday, May 5, 2011

Goldman Sachs appoints new president for local unit

Alejandro Vollbrechthausen will become president of Goldman Sachs' (NYSE: GS) Brazilian unit, responsible for managing the São Paulo office across all divisions of the firm, and effective once regulatory approvals have been granted, according to an internal memo obtained by BNamericas.

Current president Valentino (Val) Carlotti will remain in the region, working with Vollbrechthausen over the next months to ensure a smooth transition prior to his relocation to New York, the memo signed by CEO Lloyd Blankfein reads.

"Under Val's leadership, the firm has attracted a strong team of senior Brazilian professionals and has established a full service onshore platform with local representation in Brazil from equities, FICC [fixed income, currencies and commodities], asset management, private banking, investment banking and research," the memo says.

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Vollbrechthausen previously managed the sales, structuring and derivatives marketing effort in Latin America and the emerging markets sales desk in New York. He joined Goldman Sachs in 2001 as a VP in FX Latin American sales and was named managing director in 2003 and partner in 2006.