Goldman Sachs Hires Gary Black to Lead Sales and Marketing of U.S. Asset Management Group

NEW YORK – The Goldman Sachs Group, Inc. (NYSE:GS) announced today that Gary Black has joined the firm as a Managing Director in the Asset Management Group where he will be responsible for the firm's U.S. institutional and third party businesses. Mr. Black will oversee all institutional and mutual fund sales channels, marketing, and client service functions.

;Gary brings to the firm a tremendous combination of research and marketing experience, with an exceptional record of achievement in the industry,; said David B. Ford, Managing Director and co-head of Global Asset Management at Goldman Sachs. ;Gary's extensive experience will help further the firm's focus on asset management.;

Mr. Black joins Goldman Sachs from Alliance Bernstein where he was Executive Vice President and Head of Institutional Marketing. He joined Sanford Bernstein in 1992, as a senior research analyst covering the tobacco and beverage industries. He was ranked as number one tobacco analyst in the Institutional Investor magazine's All-America Research Team for six consecutive years through 1998. Mr. Black received his B.S. from Wharton School at University of Pennsylvania in 1982 and an M.B.A. from Harvard University in 1988.

Goldman Sachs is a leading global investment banking and securities firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.