Expansion of Goldman Sachs Asset Management's Sales Division Underway

Goldman Sachs, the multinational investment bank, is making significant strides in its asset management division. The bank has announced the acquisition of NN Investment Partners' assets, a move that is expected to enhance their capabilities in various areas.

The acquisition, according to Oliver Rahe, head of private banking at Goldman Sachs, is aimed at broadening their expertise in multi-asset strategies, European equities and bonds, and Environmental, Social, and Governance (ESG) strategies.

Sven Weddermann, an experienced sales expert with extensive knowledge and experience in investment banking, is joining Goldman Sachs as part of the deal. Weddermann, who previously spent 18 years at Deutsche Bank, primarily in roles within Private Banking and central product and sales management, will be serving as the Executive Director of Retail Banking for Goldman Sachs Asset Management's wholesale banking division.

Before joining Goldman Sachs Asset Management on July 1, 2021, Weddermann worked at DWS Investment GmbH.

The acquisition will also contribute to Goldman Sachs' ambitious goal of doubling its customer base. Upon completion, expected at the beginning of next year, the acquisition will significantly expand Goldman Sachs' product range.

Goldman Sachs' asset management platform has grown significantly in the past year, and the bank is strengthening its team of contact partners to accommodate this growth. Further new additions to the team are expected in the coming months.

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This move by Goldman Sachs is a testament to their commitment to providing top-tier asset management services and expanding their reach in the European market. With the addition of Sven Weddermann and the acquisition of NN Investment Partners' assets, Goldman Sachs is poised to continue its growth trajectory in the coming years.