(Reuters) – Goldman Sachs has appointed insiders William Connolly and Michael Voris as co-heads of equity capital markets (ECM) in the Americas, according to a memo seen by Reuters on Wednesday.
The move comes at a time when Wall Street firms are vying to get more business in their ECM units by winning more mandates on high-profile initial public offerings as stock market floatation continues to ride last year’s recovery wave.
Goldman is a heavyweight in equity capital markets, the part of investment banking that starts selling shares in previously private companies to the public, a traditional way to unlock new funding for growing businesses.
Connolly, who joined the Wall Street firm in 2005, is head of Technology ECM and advises clients on equity-related matters across technology, media and telecommunications, the memo added.
Voris is global head of convertible bond financing and manages alternative capital solutions and equity derivatives in the Americas.
Goldman also named Elizabeth Reed chief operating officer for ECM globally, a newly created role, in addition to her duties as global head of the equity syndicate desk, the memo said.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru and Saeed Azhar in New York; Editing by Shailesh Kuber and Maju Samuel)
