Goldman Sachs Names Philippe Khuong-Huu as Head of its Global Interest Rate Products Group

New York – The Goldman Sachs Group, Inc. (NYSE:GS) today announced that Philippe Khuong-Huu is joining the firm as a Managing Director. Mr. Khuong-Huu will lead Goldman Sachs' Global Interest Rate Products Group, which is comprised of the firm's government and swaps trading businesses coordinated on a global basis. Mr. Khuong-Huu comes to Goldman Sachs from J.P. Morgan.

"The convergence of the cash and derivatives markets around the world is creating significant opportunities for Goldman Sachs and its clients," said Lloyd Blankfein, co-head of Goldman Sachs Fixed Income Currencies and Commodity Division. "Philippe's technical and strategic expertise will be of great benefit to our franchise as we move forward."

Mr. Khuong-Huu graduated from the Ecole Polytechnique, and was awarded an advanced degree in Statistics from ENSAE. In 1988, he joined Societe Generale Bank to start their index arbitrage business in Paris. In 1991, he moved to J.P. Morgan in Tokyo to start its options arbitrage group, and has since headed a number of its businesses including the firm's global interest rate and credit derivatives groups. He was one of the founders of FPML, an industry-wide initiative to create an electronic trading platform for options. Most recently Philippe has been involved in J.P. Morgan's Lab Morgan e-business subsidiary where he was responsible for a variety of different internet-driven initiatives.

The Goldman Sachs Group, Inc. is a leading global investment bank and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.