- Goldman has internally announced a slew of leadership changes in its investment bank.
- Rising star Kim Posnett was named the new head of its tech, media, and telecom group.
- Goldman’s Aasem Khalil will take on Posnett’s role as global head of investment banking services.
A fresh face will now lead one of Wall Street’s most powerful investment banking groups.
Kim Posnett, a longtime Goldman Sachs veteran and current global head of investment banking services, has been named to lead the bank’s high-profile Technology, Media, and Telecom group, according to an internal memo obtained by Insider.
She will retain her current title as co-head of One Goldman Sachs, the bank’s initiative to unify its disparate clients and businesses. When Posnett was named head of investment banking services in 2021, she was the youngest person and first woman to be the sole head of the group in Goldman’s history.
In a memo sent to Goldman staff, Global Banking and Markets heads Ashok Varadhan, Dan Dees, and Jim Esposito wrote that Posnett will work closely alongside TMT co-COOs Barry O’Brien and Jung Min.
“This experienced leadership group will work to refine and enhance TMT’s global strategy with a focus on strengthening client relationships, growing commercial opportunities and further developing our global team,” they wrote, according to a copy of the memo obtained by Insider.
Posnett, who joined Goldman in 2005 and was named a partner in 2016, has built much of her career at the bank within the TMT group. She ultimately served as co-COO of TMT and head of Internet investment banking before being appointed head of investment banking services. Goldman’s TMT team is among the most active across Wall Street, with several high-profile recent transactions — Elon Musk’s takeover of Twitter and Broadcom’s acquisition of VMWare, to name just two — flowing through the desk.
As the head of TMT, Posnett succeeds Sam Britton, who was promoted to run the team alongside former co-head Matt Gibson in 2021. Gibson left the group earlier this year to move to a new job within Asset and Wealth Management; Britton will take on a new role as co-chairman of global TMT banking, the memo said.
“In this new role, Sam will leverage his deep industry experience to enrich our leading TMT franchise by driving commercial opportunities, advising on important strategic initiatives and expanding our client footprint,” Varadhan, Dees, and Esposito wrote.
Bloomberg first reported news of Posnett’s appointment.
Succeeding Posnett as head of global investment banking services is Aasem Khalil, a Goldman partner and 26-year veteran of the Wall Street bank.
Khalil currently heads Goldman’s Dallas office, is co-head of Latin America, and is head of the bank’s investment banking work in the southern region — all positions he will keep.
“In this role, Aasem will focus on advancing our client coverage strategy, strengthening the partnership with our trusted advisory relationships, and reinforcing excellence in client service through best practices with IBS representatives across our businesses,” wrote Varadhan, Dees, and Esposito in a separate memo announcing Khalil’s appointment.