Goldman US banker takes Europe role

Bank of America Merrill Lynch named Goldman Sachs banker Diego De Giorgi as a co-head of its investment bank in Europe, the latest in a flurry of changes at the top of the region’s investment banks.
By The Newsroom
Published 26th Jun 2012, 09:29 BST

Mr De Giorgi, chief operating officer of the investment banking division of Goldman Sachs in New York, will join Bank of America in January, BAML said yesterday.

He will share the role as co-head of Global Corporate and Investment Banking for Europe, Middle East and Africa with Bob Elfring, who joined the bank in 2011.

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“Diego has almost 20 years experience in European investment banking, covering financial institutions and southern European clients in particular,” BAML investment bank head Christian Meissner said.

The US bank, under pressure to improve its flagging performance, in March lost Andrea Orcel – the architect of many of Europe’s biggest banking deals – to Swiss group UBS where he will co-head the investment bank.

Mr Orcel was the banker of choice for clients such as Spanish bank Santander and Italian peer UniCredit. Hiring Mr De Giorgi – who is Italian – may put BAML in a better position in southern Europe.

Related topics:Europe