September 18, 2025
David Kostin to Become an Advisory Director 

 

After 31 years of distinguished service, David Kostin, chief US equity strategist, will retire from the partnership at the end of the year and become an advisory director.

Over the course of his career, David has been recognized as a leading expert in the US stock market. He brought a client-first approach to equity market analysis, developing rigorous frameworks and delivering differentiated products and insights that have guided investors through multiple market cycles. David further strengthened Goldman Sachs’ reputation for research, including through his role in developing the Goldman Sachs Hedge Industry VIP ETF. His keen insights and deeply developed views, which he also shared through frequent media appearances, have made David one of the most widely followed equity strategists on Wall Street.
 
David has also exemplified our core values to bring the best of the firm to our clients – collaborating across divisions and regions to engage with many of our most significant corporate and institutional clients.

David joined Goldman Sachs in 1994 and spent his first decade at the firm in US Equity Research, covering the real estate sector and REITs. In 2004, he transitioned to US Portfolio Strategy, where his deep understanding of corporates and company-specific dynamics complemented the Macro Research team’s broader, top-down analysis. David was named managing director in 1998 and partner in 2010.

Beyond his commercial contributions, David has helped develop the next generation of talent within his own team and across GIR. His commitment to excellence and willingness to share his time and perspective have made a lasting impact on our culture.

Please join us in thanking David for his outstanding contributions to Goldman Sachs, as well as his continued service to the firm.

 

September 15, 2025
Fadi Abuali to Retire 

 

After nearly 28 years of distinguished service, Fadi Abuali, global co-head of the Asset Management Institutional Client Business, co-chief executive officer of Goldman Sachs Asset Management International, and co-chief executive officer of Goldman Sachs for the Middle East and North Africa region, will retire.
 
Fadi has played an important role in the growth of our business and advancing our strategic priorities. Throughout his time at the firm, Fadi has deepened our franchise and delivered differentiated solutions to clients across the globe.
 
Fadi first joined Goldman Sachs in 1997 as an associate and rejoined the firm in 2001 as an executive director. He was named managing director in 2006 and partner in 2014. He is a member of the European Management Committee and EMEA Conduct Committee, serves on the board of Goldman Sachs Asset Management International, and is co-chair of the Goldman Sachs Asset Management International Management Committee.
 
In addition to his commercial contributions, Fadi has consistently exemplified the firm's core values. Fadi has embodied the firm’s apprenticeship culture, built trusted relationships with our clients, and served as a mentor and friend to many of our people over the years.
 
Please join us in thanking Fadi for his dedication to our clients, our people, and the firm, and in wishing him and his family the best in the years ahead.

September 12, 2025
Orla Dunne to Retire

 

After 25 years of distinguished service, Orla Dunne, global head of Foundational Infrastructure and head of Core Engineering in EMEA, will retire this fall.

 

In her roles, Orla has played a critical role in providing unified platforms, infrastructure, and shared tools and services benefitting all areas of the firm.  In EMEA, she has also partnered with teams and the business throughout the region to advance cross-divisional Engineering initiatives spanning platforms, data intelligence, research and development, and technology risk.  Orla serves on the Firmwide Technology Risk Committee and EMEA Operational Risk and Resilience Committee.

 

Orla joined Goldman Sachs in 2000 as a vice president in the Technology Division and has held a variety of roles during her tenure, including global co-head of Engineering Deployment, Runtime and Architecture, head of Technology Infrastructure and Client Platforms in EMEA, and global head of Market Data.  She was named managing director in 2009 and partner in 2020.

 

Throughout her tenure, Orla has been dedicated to our culture and people, and helped recruit, develop and mentor many colleagues across the firm and in EMEA.  She has also helped advance a number of Goldman Sachs’ inclusion and diversity initiatives in her roles as a member of the EMEA Inclusion and Diversity Committee and a regional sponsor of the Women in Engineering Network.

 

Please join us in thanking Orla for her outstanding dedication and many contributions to Goldman Sachs, and in wishing her and her family the best in the years ahead.

September 12, 2025
Miruna Stratan to Become Global Head of Cloud Platform and Foundational Infrastructure

 

We are pleased to announce that Miruna Stratan will join Core Engineering as global head of Cloud Platform and Foundational Infrastructure.  In this capacity, Miruna will lead a unified Cloud Platform organization that brings together our Cloud Product, Cloud Development and Cloud Infrastructure teams, in addition to serving as head of the Foundational Infrastructure organization.
 
Miruna currently serves as global co-head of Enterprise Partnerships Engineering within Platform Solutions.  She is a member of the Firmwide Digital Strategy Steering Group, Firmwide Technology Risk Committee and the Firmwide Artificial Intelligence Risk and Controls Committee. Miruna is also co-head of the Technology Fellow program.  Previously, Miruna was global head of Investment Banking Engineering.  Before that, she was chief technology officer of Workplace Platforms and global head of External Cloud Access Platform, Cloud Desktop and Login.GS Engineering.
 
She first joined Goldman Sachs in 1999 as an engineering analyst in Investment Banking.  She was named technology fellow in 2013 and managing director in 2015.  Miruna rejoined the firm as a managing director in 2018 and was named partner in 2020.
 
This appointment will advance our efforts to deliver differentiated platforms, robust infrastructure, and best-in-class tools and services that are common across the firm, as well as accelerating our Cloud adoption strategy.  
 
Please join us in congratulating Miruna on her new responsibilities, and in wishing her continued success. 

September 9, 2025
Richard Spencer to Become an Advisory Director

 

After more than 16 years of distinguished service, Richard Spencer, head of EMEA Real Estate within Goldman Sachs Asset Management and global chief investment officer of the Real Estate Credit Partners fund series, will retire from the partnership and become an advisory director at the end of the year. I am pleased that Richard will continue to be involved in investment strategy and deal selection as chairman of Asset Management Real Estate Credit and a member of the Asset Management Real Estate Investment Committee. 
  
Richard has made significant contributions to our organization as he helped grow and lead our Real Estate business over the past 13 years, including the growth of our market leading Real Estate Credit Partners franchise. Prior to joining Asset Management in 2012, Richard was co-head of the European Real Estate Financing Group in the Investment Banking Division. We have greatly benefited from his leadership in positioning our business for its next phase of growth and look forward to his continued involvement in our investment process.
 
Richard joined Goldman Sachs as a vice president in 2009, and was named managing director in 2012 and partner in 2018.
 
Please join me in thanking Richard for his continued service and dedication to our firm. 

August 21, 2025
Jerry Lee to Leave Goldman Sachs

 

After 18 years of distinguished service, Jerry Lee, a partner in the Global Healthcare Group within Investment Banking, will leave the firm.
 
During his tenure, Jerry has helped expand our coverage of biotechnology and pharmaceutical companies globally.
 
In addition to his commercial contributions, Jerry has also helped recruit, develop and mentor our people.
 
Jerry joined Goldman Sachs in 2007 as an associate, and was named managing director in 2015 and partner in 2020.
 
Please join us in thanking Jerry for his contributions to the firm and our clients, and in wishing him and his family the best in the years ahead.

August 17, 2025
Teppei Takanabe to Become Co-Head of Investment Banking in Japan

 

We are pleased to announce that Teppei Takanabe will become co-head of Investment Banking in Japan, alongside Yoshihiko Yano.

 

Together, Takanabe-san and Yano-san will drive our strategy to strengthen and grow our business in Japan, coordinating closely with senior leaders across our broader Asia Pacific investment banking franchise. They will also work with Shogo Matsuzawa over the coming months to effect a smooth transition.

 

Takanabe-san is currently co-head of the Financial Institutions Group and head of Financial and Strategic Investors Group in Japan. He is a member of the Goldman Sachs Japan Co., Ltd. Executive Committee and the Asia Pacific Commitments Committee.

 

Takanabe-san joined Goldman Sachs in 2000 as an analyst, and was named managing director in 2008 and partner in 2024.

 

Please join us in congratulating Takanabe-san on his new role, and in wishing Takanabe-san and Yano-san continued success.