Goldman Sachs Group Inc‘s Don Truesdale, who helped build its financial institutions banking practice and pioneered some of the first deals between hedge funds and banks, is retiring.
Truesdale spent 25 years at the Wall Street firm and was global head of Goldman’s asset management and financial technology banking group, according to an internal memo reviewed by Reuters.
A Goldman spokesman confirmed the contents of the memo.
Truesdale, 50, joined Goldman’s merger and acquisitions group in 1991. He was named managing director in 1999 and partner in 2004.
During his tenure at the bank, Truesdale worked on early sales of hedge funds before such deals were commonplace. He represented Highbridge Capital Management in its sale to JPMorgan Chase & Co and York Capital Management in a sale of a stake to Credit Suisse AG.
Truesdale also helped take investment firms Och-Ziff Capital Management Group and Fortress Investment Group public and sold broker dealer LPL Financial Holdings Inc to private equity firms TPG Capital and Hellman & Friedman LLC before later taking it public.
Other deals include the sale of Nuveen Asset Management to Madison Dearborn and then to TIAA, as well as advising investment company Invesco in its acquisition of Van Kampen Investments.