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One More Goldman Partner is Leaving the Party

February 23, 2012
[ by Melanie Gretchen ] The head of mergers and acquisitions for Northern Europe, and a partner since 2006, will be leaving.  The retirement of Luca Ferrari was announced to the firm in an internal memo.  Mr. Ferrari joined the firm in 2000 and, in 2001, was promoted to managing director.  Prior to joining Goldman, Ferrari had been with UBS Warburg.  The memo was signed off by Richard Gnodde, David Solomon, and John Weinberg. Ferrari's announcement on Thursday coincided with a similar, same-day announcement that fellow partner, Howard Wietschner, 44, was leaving.  Mr. Wietschner, an 18-year veteran with Goldman Sachs, is credited with having helped form the bank’s hedge fund industry group in 2007. And so, the string of departures by firm partners continues unabated - though at a lesser rate than the firm experienced in Q4 of 2011.  It's a significant development at Goldman, until one acknowledges that such changes are taking place throughout the Street.  Goldman, like its Wall Street rivals, continues to grapple with lower revenue and more stringent regulations that put pressure on earnings. Other Goldman partners who have left in recent months include George Mattson, who headed Goldman’s industrials group, and Edward Eisler and David Heller, who led the firm’s securities business. Text of the Goldman memo announcement Ferrari's retirement:

After 12 years of distinguished service, Luca Ferrari has decided to retire from the firm.

Luca joined the firm in 2000 as a vice president in the Investment Banking Division.  He currently is responsible for the mergers and acquisitions business for the Northern European region and is a senior member of the M&A Group.  Luca was named managing director in 2001 and partner in 2006.  Prior to joining the firm, he spent 9 years in the merger advisory business at UBS Warburg.

Over the years, Luca has led some of the firm’s most significant transactions.  In addition to his commercial contributions, Luca has helped to recruit, mentor and develop many of our next generation of M&A bankers.

Please join us in thanking Luca for his many contributions to the firm and wishing him and his family all the best in the future.

Among those signing was John Weinberg. [Dealbook, 2/23/12]