The logo of Dow Jones Industrial Average stock market index listed company Goldman Sachs (GS) is seen on the clothing of a trader working at the Goldman Sachs stall on the floor of the New York Stock Exchange, United States, in this April 16, 2012 file photo. REUTERS/Brendan McDermid/File Photo

The logo of Dow Jones Industrial Average stock market index listed company Goldman Sachs (GS) is seen on the clothing of a trader working at the Goldman Sachs stall on the floor of the New York Stock Exchange, United States, in this April 16, 2012 ... file photo. REUTERS/Brendan McDermid/File Photo (Copyright Reuters 2016)

Goldman Sachs' Latam investment bank chief to leave-source

By Markets Reuters

Martin Werner, co-head of Goldman Sachs' investment banking business in Latin America, will depart the Wall Street bank at the end of this year, according to a person familiar with the situation.

Continue Reading Below

Werner, who also runs Goldman's investment banking business in Mexico, told the Mexico office last week he was leaving after 16 years at the bank.

A spokesman for Goldman Sachs in New York declined to comment. Werner did not immediately reply to an email seeking comment.

Werner's departure follows a change at the top of Goldman's Latin American business earlier this year when Stephen Scherr stood down as head of the region to take on a new role as Goldman's banking head. Scherr, also Goldman's chief strategy officer, was replaced as Latin American boss by Marc Nachmann, head of the firm's global financing group.

Richard McNeil, who was co-head of investment banking in Latin America with Werner, will retain his position, the person familiar with the situation said.

Werner will be replaced as head of the Mexican business by Manuel Camacho and Jorge Comode.

Continue Reading Below

Before joining Goldman Sachs in 2000, Werner was under-secretary at Mexico's finance ministry.

(Writing by Carmel Crimmins; Editing by David Gregorio)