Published January 28, 2013
Veteran Goldman Sachs (GS) dealmaker Luigi Rizzo, managing director of European financial mergers and acquisitions, is to leave the U.S. investment bank, five people familiar with his departure told Reuters.
Rizzo, who joined Goldman Sachs in 1993 and became a partner in 2008, has worked on some of Europe's biggest bank deals.
Goldman Sachs declined to comment.
Goldman's financial institutions team in Europe has advised on a range of major transactions, including a recapitalization plan for Spain's Bankia <BKIA.MC>, Barclays' <BARC.L> deal with ABSA <ASAJ.J> in South Africa and a three-way merger of Spain's Liberbank, Ibercaja and Cajatres.
Rizzo might take on another role in corporate finance, some of the people said. Rizzo did not respond to an email seeking comment.
Investment banks around the world face shrinking revenues and rising costs from tighter regulation in the wake of the financial crisis.
Goldman has been cutting staff to reduce costs because of the weak revenue environment. The U.S. bank said earlier this month it would pay about 38 percent of its revenue to employees, the second lowest percentage since the bank went public.
Goldman ranked No. 1 in mergers and acquisitions globally in 2012.