Michael Sherwood, co-chief executive of Goldman Sachs' business outside the US, is selling more than $18m (€14m) worth of shares in the Wall Street bank.

Sherwood, who has held the top role at Goldman Sachs International since May last year after joining the bank 20 years ago, was voted in June the most influential person in European capital markets for the second year running in a poll conducted by Financial News. His net worth has been estimated at least £185m (€275m), including £125m worth of shares in the bank. Sherwood, who jointly oversees Goldman Sachs' non-US business with Richard Gnodde, is planning to sell 100,000 shares in the bank in the coming weeks, according to filings last week with the US Securities and Exchange Commission. Goldman Sachs' shares have risen 44% this year and by almost three quarters to more than $181 since Sherwood, 41, assumed his role. At that price, the planned share sale will be worth $18.1m. Sherwood, Gnodde and Scott Kapnick, the co-head of global investment banking who ran Goldman Sachs International with Sherwood until a management reshuffle in July handed the role to Gnodde, are among Goldman's top executives and sit on the bank's management committee. Lower revenues from trading and principal investments, the engine of Goldman Sachs' profits in recent years, slipped in the third quarter, reducing group net profits by 3% to $1.6bn.