Goldman Sachs Executive Julian Salisbury Joins Sixth Street as Co-Chief Investment Officer
Julian Salisbury, a top executive at Goldman Sachs, is set to join Sixth Street, an investment firm, as a partner and co-chief investment officer in early 2022. With over 25 years of investing experience, Salisbury was previously the chief investment officer of asset and wealth management at Goldman Sachs, overseeing an impressive $2.7 trillion in assets.
Salisbury’s move to Sixth Street will reunite him with other former Goldman Sachs colleagues, including CEO Alan Waxman. Sixth Street currently manages around $65 billion in assets. Salisbury expressed excitement about this opportunity to drive the next set of investment opportunities at Sixth Street, citing the compelling nature of the firm’s vision.
This latest high-profile exit from Goldman Sachs follows a series of departures by senior personnel in recent months. However, the bank has been actively working to expand its asset management division and recover from its unsuccessful venture into consumer banking. As part of this effort, Goldman Sachs has promoted new partners and managing directors within its asset management division. The bank claims to have a low attrition rate for portfolio managers.
In a memo announcing Salisbury’s departure, Goldman Sachs CEO David Solomon praised Salisbury’s role in unifying various investment platforms and consolidating traditional and alternative asset management operations. Salisbury, confident in the bank’s leadership, believes they will continue running the division he helped establish.
Despite a 4% decline in revenue from asset and wealth management in the second quarter, Goldman Sachs reported record management fees and assets under supervision. CEO David Solomon plans to prioritize key businesses, such as asset management and trading, which has gained traction with the board.
Former Goldman Sachs CEO Lloyd Blankfein commended Salisbury for his work with challenging portfolios and expressed confidence in his future success.
The news of Julian Salisbury’s move to Sixth Street was reported by Manya Saini and Niket Nishant in Bengaluru, with contributions from Lananh Nguyen in New York. The article was edited by Vinay Dwivedi and Matthew Lewis.
Overall, this significant development in the financial sector highlights the ongoing changes and movements within the investment industry and the strategic plans of major players like Goldman Sachs.
