JOHANNESBURG — U.S. investment bank Goldman Sachs has appointed Jonathan Penkin as head of its Johannesburg office, the bank's base for sub-Saharan Africa where the current chief executive is retiring at the end of the year. Penkin, who will relocate to Johannesburg, will be named CEO of Goldman Sachs International Bank, Johannesburg branch, pending regulatory approval, and Goldman Sachs International branch manager, the bank said in an internal memo sent on Tuesday. Goldman said in November that Colin Coleman, current CEO for sub-Saharan banker, would retire after almost two decades heading the Johannesburg office. Penkin joined Goldman as a managing director in 2006 and was named partner in 2010. He has been head of growth markets equity capital markets and chairman of equity capital markets for Asia ex-Japan since 2016.

Source: International New York Times December 11, 2019 13:52 UTC