Goldman Sachs will combine its US mergers and acquisitions operations with the US corporate finance business, effectively mirroring the bank's European set-up.
However, a spokesperson for Goldman in New York downplayed the significance of the move, describing it as an evolutionary process designed to help serve clients better. "This is not about merging the groups as much as aligning the departments along industry lines. For some time we have been evolving our model towards industry alignment, and the European model is industry alignment," she said.
