Veteran banker departs Goldman Sachs for Sixth Street firm
Goldman Sachs Executive Julian Salisbury to Join Sixth Street Partners
In a notable move, Julian Salisbury, a former global co-head of asset management at Goldman Sachs, has announced his departure from the financial giant. Salisbury is set to join Sixth Street Partners as co-chief investment officer, according to his LinkedIn blog.
Salisbury's departure is one of several recent executive departures at Goldman Sachs. The reasons for these departures are not explicitly stated in the article, but Marc Nachmann, head of Asset and Wealth Management at Goldman Sachs, stated that several departures from the company were not surprising given the recent changes in the business.
Salisbury will be joining Sixth Street Partners alongside Alan Waxman and Joshua Easterly, who are also Goldman Sachs alumni, as co-CIO. Michael Sherwood, a former Goldman Sachs executive, has also been hired as a co-chief investment officer by Sixth Street Partners in recent years.
Salisbury led European operations at Goldman Sachs from 2008 to 2013 and global operations from 2013 to 2019. During his tenure, he played a significant role in the firm's growth and success. Former Goldman CEO Lloyd Blankfein described Salisbury as a 'Goldman careerist who worked his way through the ranks,' a 'sharp investor,' and a 'natural leader of other investors.'
In his LinkedIn blog, Salisbury mentions taking a 'first meaningful break from work in 28 years' before joining Sixth Street Partners. He plans to join the firm in 2024.
Six of the 11 partners named in a company memo early last year related to the asset management overhaul at Goldman Sachs have left the company, including Salisbury. Tak Murata, co-head of Asia Pacific private investing, is also leaving Goldman Sachs, according to the Financial Times, but the reasons for his departure are not explicitly stated in the article.
Salisbury's role at Sixth Street Partners will involve managing a portfolio of approximately $65 billion in assets. His arrival is expected to strengthen the firm's position in the asset management industry.
Salisbury's departure from Goldman Sachs does not seem to involve any issues with the licensing rights of the company. He expresses confidence in the firm's leadership and future in his departing remarks. The article does not provide information about any potential negotiations or agreements regarding licensing rights between Goldman Sachs and Sixth Street Partners.
This development marks a significant shift in the leadership of both Goldman Sachs and Sixth Street Partners. As Salisbury prepares to join Sixth Street Partners, the financial world will be watching to see how this move impacts both companies.
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