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November 18, 2021

GSAM names MD for UK fiduciary management business

Goldman Sachs Asset Management (GSAM) has appointed Ed Francis as the managing director (MD) for its fiduciary management business in the UK.

Previously, Francis worked at Willis Towers Watson for 20 years in a variety of roles. This includes a six-year stint as the head of investment for Europe, the Middle East and Africa.

Under the new role, Francis will be based in London.

GSAM UK and Ireland Institutional Business head Chloe Kipling said: “Ed’s recruitment is an important part of our growth plans for the UK fiduciary management market and demonstrates our strong commitment to delivering market-leading solutions to UK pension schemes.”

Francis stated: “I am excited by the opportunity we have to help UK clients meet their goals. This market will continue to grow as regulatory and investment concerns add increasing complexity for trustees, particularly in areas such as ESG.”

As of 30 June this year, GSAM had around £89bn in assets under management.

Separately, Bloomberg reported Goldman Sachs Group has ramped up efforts to strengthen its private-banking team in London.

This year, it has hired at least nine wealth advisors from different rival firms.

In an interview with the publication, Goldman Sachs’s co-head of private-wealth management for EMEA Stefan Bollinger said: “We will continue to scale up as we see an opportunity to find the right talent and we see client demand.

“The UK is a highlight for our endeavour to grow the business.”

Earlier this month, it was reported that Goldman Sachs is planning to double its investments in Asia to $60bn. The move will involve investing at least $30bn into alternative assets over the next five years.

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