Goldman Sachs Asset Management Announces New Co-Head Of Global Fixed Income & Currency And Four New Promotions

Goldman Sachs Asset Management names Philip Moffitt as the new co-head of the London based Global Fixed Income & Currency (GFIC) team alongside Andrew Wilson. In addition, Philip Moffitt, Hywel George, David Dick and Axel Hörger have been promoted to Managing Director in response to the continuing strong growth and development of Goldman Sachs Asset Management in Continental Europe and the UK. The total number of Managing Directors in Europe is now 17.

Suzanne Donohoe, Co-Head of Goldman Sachs Asset Management's European operations stated, "We congratulate these individuals on their achievements. These promotions support key initiatives in: Global Fixed Income and Currency, UK and European Equity and our German distribution business. We continue to invest in the business to provide better performance and service to our clients."

Managing Director Promotions

Philip Moffitt, Co-Head of Global Fixed Income and Currency (GFIC), joined Goldman Sachs Asset Management in 1999 as a Senior Portfolio Manager in the Currency team. The GFIC team comprises 29 people focusing on: interest rate strategies for developed markets, non- government investment grade bonds and developed and emerging market currency. The team manages some €21 billion of client assets across global, regional and single country fixed income mandates. €10 billion of assets have active currency management.

Hywel George and David Dick are Co-Heads of UK and European Equity. Hywel joined Goldman Sachs Asset Management in 1999 as Head of the UK Equity team. David joined Goldman Sachs Asset Management in January 1998 and is Chairman of the European Stock Selection Group. The European Equity team comprises 23 research analysts focusing on UK, Continental European and pan-European equity strategies and manages a total of €17 billion of client assets.

Axel Hörger joined Goldman Sachs in 1994 within the Frankfurt Fixed Income Division. He moved to Goldman Sachs Asset Management in 1998 and now heads German Region Institutional Business Development and Marketing. He is a General Manager of Goldman Sachs Investment Management GmbH. Goldman Sachs Asset Management's business in Germany is recognised as one of the fastest growing (over 40% p.a.), with €4 billion of client assets under management.

Press Enquiries:
For further enquiries, please contact (UK):

Goldman Sachs
Suzanne Donohoe, Managing Director 020 7774 1000
Simon Eaton, Corporate Communications 020 7774 4201

Nitya Bolam / Roddy Cameron 020 7404 5959

Notes to Editors:

  • Goldman Sachs is one of the leading global investment banking, securities and investment management firms, providing a full range of investment, advisory and financing services world wide to a substantial and diversified client base which includes corporate, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. After 130 years as a private partnership, the firm became a public company in 1999. Goldman Sachs is headquartered in New York and has 47 offices in more than 20 countries (1).
  • Goldman Sachs Asset Management was founded in 1988. Globally, Goldman Sachs Asset Management manages assets totaling some $282.5 billion (2) covering a broad variety of clients including: pension funds, foundations and endowments, governments, corporations and financial institutions.
  • Goldman Sachs Asset Management International is regulated by the Financial Services Authority (FSA).
  • This press release has been communicated in the United Kingdom by Goldman Sachs Asset Management International, which is regulated in the UK by the FSA. It is your responsibility to ensure that any onward transmission of information contained within this press release is distributed in accordance with applicable law and regulation. This press release is for information purposes only and is not construed as solicitation to anyone in any jurisdiction.
(1) As at 12 November 2002
(2) As at 30 September 2002