Goldman names Lyon, Ludwig to head equity capital markets: Reuters

Goldman Sachs Group Inc has named Pete Lyon and David Ludwig to co-head its equity capital markets group in the Americas, according to a memo on Monday seen by Reuters.

The two replace John Daly, who will become chairman of global equity capital markets, the New York-based investment bank said in the document.

A Goldman spokeswoman confirmed the contents of the memo.

Lyon was previously co-head of investment banking services in the Americas. He joined Goldman in 1990 in debt capital markets and has held other roles within leveraged finance and financial sponsors. He was named managing director in 2003 and partner in 2006.

Ludwig, who will move to San Francisco for his new role, has been responsible for the technology, media and telecom sectors within equity capital markets. He was named managing director in 2006 and partner in 2010.

Equity capital markets activity has slowed this year, as volatile markets caused companies to retreat from raising capital.

Companies have raised around $60 billion in initial public offerings, follow-ons and convertible offerings globally so far this year, down about 50 percent from the same period a year ago, according to Thomson Reuters data.

(Reporting by Olivia Oran in New York; Editing by Matthew Lewis)