Goldman Sachs promotes two veterans to run global tech group as Nick Giovanni leaves for Instacart

SourceCNBC
SectorEconomy
CountryMiddle east

A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange.Brendan McDermid | ReutersGoldman Sachs is coming off a banner year in tech investment banking, and now has to call on new leadership to keep up the momentum.The bank on Thursday promoted Sam Britton and Matt Gibson, two company veterans, to run its global tech, media and telecom group after Nick Giovanni, who ran the team for two years, left to become CFO of Instacart.In a year that included three of the 10 biggest IPOs ever for U.S. tech companies and the second-largest software acquisition on record, Goldman advised on all of them. The bank led overall in tech IPOs and mergers and acquisitions, beating Morgan Stanley and JPMorgan Chase in both categories.There's no slowdown in sight, with online lender Affirm and gaming company Roblox on file to go public, along with cloud software vendor Qualtrics, which is spinning out of SAP. Goldman is leading the Roblox deal and listed second to Morgan Stanley on Affirm's prospectus.

Instacart is among a lengthy list of additional tech and internet companies expected to debut at some point in the year.Gibson, a 20-year Goldman ...read more...