She will step down from the partnership and become an advisory director to the $1.8 trillion division.
Sheila Patel, Goldman Sachs’ Singapore-based chairman of its asset management unit, is set to retire after two decades at the firm and take on an advisory role, «Bloomberg» reported on Monday.
«Sheila has contributed to our culture, including by serving as a mentor to many Goldman Sachs professionals around the world,» David Solomon, said in an internal memo to staff.
Patel was appointed as GSAM chairman in September 2019. She joined Goldman Sachs’s investment bank in 2003, after heading up Trading Strategy at Morgan Stanley for seven years. She transferred to GSAM in 2009, and was based in Singapore, GSAM’s Asia regional investment hub, for seven of the past 12 years.