Goldman Sachs co-head of asset management arm to retire

FILE PHOTO: A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray

(Reuters) – The global co-head of Goldman Sachs Group Inc’s asset management arm, Eric Lane, is leaving the bank after more than two decades, according to a memo seen by Reuters on Monday.

Lane will join the hedge fund Tiger Global Management as president and chief operating officer, according to a letter sent to the firm’s investors by Tiger top executives Chase Coleman and Scott Shleifer.

Over the coming weeks, Lane will work with Julian Salisbury to ensure a smooth transition at Goldman’s asset management division, according to the memo.

Lane and Salisbury have brought together the bank’s merchant banking and asset management businesses, engaging directly with clients including sovereign wealth funds, public and private pension funds and insurance companies, Goldman said.

Lane has also served as co-head of Goldman’s consumer and investment management division, among other leadership roles.

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