Goldman Sachs JBWere prepares for job cuts, appoints new co-CEO
Goldman Sachs JBWere (GSJBW) is preparing to make job cuts across one of its Australian divisions as it appoints a new co-chief executive of the company.
A spokesman for GSJBW said there would be a “small number of redundancies in a particular division” that were made this week in Australia. They had not ruled out further redundancies during the year.
“Like all of our competitors, we’ll be looking at how our teams are structured, and whether the resourcing meets the environment and matches the clients’ needs,” she said.
Simon Rothery, the current managing director and head of the securities division of the company, has been appointed as the new co-chief executive of GSJBW after Craig Drummond’s decision to retire in May. He is a member of the management committee and is a director of the GSJBW board.
Rothery joined Goldman Sachs in Hong Kong and London, holding a number of senior roles in fixed income, currencies and commodities business. He played an important role in the merger that formed GSJBW.
Stephen Fitzgerald, the chief executive of the company, said he looked forward to working with Rothery to achieve GSJBW’s aim of becoming a leading investment bank in Australasia.
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