Goldman Sachs Group Inc. executive Diego de Giorgi is expected to leave the Wall Street firm to take a senior role with Bank of America Merrill Lynch in London, according to people familiar with the matter.
De Giorgi, a rising star and chief operating officer of Goldman's vaunted investment-banking unit, is expected to become co-head of global corporate and investment banking for the European region, one of the people said. His co-head is to be Bob Elfring, who runs investment banking in the Benelux region and northern Europe for BofA. As with all such personnel moves, it is possible plans could change at the last minute and Goldman could hold onto de Giorgi.
Should the move be completed, it would be a coup for BofA, which has been seeking to rebuild its investment-banking ranks in Europe after a talent drain precipitated by the U.S. lending giant's acquisition of Merrill Lynch at the height of the financial crisis. The firm has regained a measure of stability lately under global investment banking head Christian Meissner and won roles on a number of marquee merger and underwriting deals.
The European investment-banking role at BofA was left vacant when Meissner was promoted to the global role earlier this year. Meissner, a Goldman alum himself, is said to be close to de Giorgi from his days there.
This story first appeared on WSJ.com.
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