A senior Goldman Sachs dealmaker, one of only a handful of London investment bankers promoted to partner last year, is set to leave the firm to join independent investment bank Rothschild.
John Brennan, a partner within Goldman’s team of dealmakers focused on financial institutions, is stepping down, according to people familiar with the matter.
He is understood to be joining Rothschild in a senior position, the people said.
Rothschild and Goldman Sachs declined to comment.
Brennan was one of 13 London-based individuals at the bank to be elevated to the coveted role of partner during Goldman’s latest round of promotions in November, and one of just four to make it to the rank within the investment bank in the region.
Goldman’s chief executive David Solomon has been slimming down the number of partner promotions in a bid to restore more prestige to the rank.
A 16-year veteran of the bank, Brennan joined Goldman as an associate from Deutsche Bank in 2005 and started his career at JPMorgan. As well as being a senior banker within Goldman’s financial institutions group, he was also chief operating officer in the unit for Emea.
Investment banks are increasingly bolstering their teams of dealmakers focused on the financial institutions space amid a wave of asset management mergers and acquisitions and expected consolidation in the European banking sector.
Armando Rubio-Alvarez, who heads the financial institutions group at Credit Suisse in Europe, the Middle East and Africa, is leaving to join Jefferies in a senior role. Meanwhile, Barclays hired Lucy Demery as a managing director covering fintech clients in Emea.
In the US, Barclays has hired David MacGown from Credit Suisse, while the Swiss bank’s global head of financial institutions, Alejandro Przygoda, is also joining Jefferies along with four other senior bankers.