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Goldman appoints new global M&A co-head

US investment banking and securities firm Goldman Sachs Group has appointed Gregg Lemkau as the new global co-head of the merger division.

Lemkau will manage the global M&A unit with Gene Sykes, who has been lone head of the unit since the departure of Yoël Zaoui, last year.

An internal memo of the company has been cited by media sources as saying that both Lemkau and Sykes will work directly with Michael Carr, Goldman head of M&A in the Americas.

Based in London, Lemkau is currently working as the investment bank’s head of mergers & acquisitions in European and Asian-Pacific regions.

The appointment is seen as a part of the bank’s strategy to refurbish its M&A division, amid declining profitability.

Lemkau has been working with Goldman since 1992 and acted as chief operating officer for the investment banking division as well as co-head of global healthcare investment banking and technology M&A.

The bank has decided to promote Gilberto Pozzi to the head of M&A in the European region, who is presently acting as global co-head of consumer and retail operations.