(Reuters) – Goldman Sachs is bringing back Nick Giovanni, who spent more than 20 years at the Wall Street giant in a prior stint, according to an internal memo seen by Reuters on Tuesday.
Giovanni will rejoin Goldman later this month as a partner in the technology, media and telecommunications group of the investment banking segment, the memo said.
He left Goldman in 2021 to become the chief financial officer of grocery delivery platform Instacart, where he contributed to the company’s efforts to list on the Nasdaq. He departed Instacart last year.
“Having operated as a tech executive for the past few years, I hope to bring a new level of insight and empathy to the work in addition to new, innovative solutions that help founders, companies and investors achieve their goals,” Giovanni said in a LinkedIn post.
During his previous tenure at Goldman, he worked on some of the biggest deals and public offerings for clients including Airbnb, DoorDash and X, formerly known as Twitter.
A Goldman spokesperson confirmed the contents of the memo. The move was first reported by the New York Times DealBook.
DEALMAKING SURGE
Giovanni’s hiring comes as Goldman prepares for a flurry of corporate dealmaking, thanks to the anticipated easing of regulatory burden under President Donald Trump.
“The backdrop to dealmaking, especially in tech, is quite constructive today,” said Kim Posnett, global co-head of investment banking, on a podcast Goldman released on Tuesday.
“In the early days of this year, you’ve seen a lot of strategic activity. I expect that strategic activity to continue and accelerate throughout the year.”
Last month, the bank promoted several executives as part of a management reshuffle to reinforce its dominance on Wall Street.
(Reporting by Niket Nishant in Bengaluru and Saeed Azhar in New York; Editing by Shinjini Ganguli and Alan Barona)
