The two heads of Goldman Sachs's flagship private investing business quit Friday, the latest senior departures at the Wall Street firm and ones that threaten to undermine a big fundraising push.

Sumit Rajpal and Andrew Wolff jointly ran Goldman’s $100bn-plus merchant bank, which invests the firm’s money and that of clients into deals. They were elevated last spring to help spearhead a big fundraising push, which aims to bring in another $100bn over the next five years.