Goldman Sachs' New York head of investment management John McNulty is set to retire after 22-years with the firm.
McNulty will become a senior director at the end of this month and will hand over the investment management reigns to Philip Murphy and Peter Kraus.
McNulty joined Goldman Sachs in 1980 as a private wealth management client advisor in Philadelphia. In 1996 he was named co-head of the asset management division and in 1999 the head of the investment management division. McNulty became a partner in 1990 and a managing director in 1996.
By Janet Du Chenne
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.