(Bloomberg) -- Goldman Sachs Group Inc. appointed Andy Tai head of its investment banking division in Southeast Asia, filling a void left by Harry Naysmith who resigned this month.
Tai, who's been with Goldman for 14 years, will drive client coverage, particularly in the new economy sectors, and work closely with the regional investment banking team to “elevate” the southeast Asia footprint, according to an internal memo that was confirmed by a spokesperson.
Most recently working in Hong Kong, Tai will be returning to Singapore, and maintain a senior role in the technology, media and telecom business, memo says. The appointment follows the resignation earlier this month of Naysmith, who will join Citigroup Inc. as vice chairman of banking, capital markets and advisory for Southeast Asia.
Goldman is trying to boost its coverage in the region after going through a tumultuous time over its involvement in the 1MBD investment fund scandal that cost it a record foreign bribery penalty in the U.S. last year. The firm ranked third in advising on mergers and acquisitions this year in Southeast Asia, up from eighth in the same period last year, data complied by Bloomberg shows.
Tai joined Goldman Sachs in New York in 2007 and was named managing director in 2019.
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