Jennifer Davis, a senior Goldman Sachs Group Inc. dealmaker, is jumping to a buyout firm.
Davis, who was head of the retail investment-banking group, is leaving to join Bain Capital’s private equity group, according to people with knowledge of the matter. The New York native spent nearly two decades at Goldman Sachs, where her roster of clients included L Brands, Ralph Lauren Corp. and PepsiCo Inc.
Goldman, like other Wall Street firms, routinely grapples with a talent drain in the weeks after annual bonuses go out, as top-performing executives weigh competing bids to lure them away. After a blockbuster 2021 for mergers, the biggest U.S. banks lifted compensation for dealmakers to some of the highest levels ever seen. That might not be enough to prevent defections to more lucrative opportunities available to its executives outside of banking.
Davis, who went to Cornell University with plans to pursue a pre-veterinary track, pivoted to a career in investment banking, getting her start at Donaldson Lufkin & Jenrette. After a stint at the Harvard Business School, Davis joined New York-based Goldman Sachs in 2003 as an associate, rising up through the ranks to be named managing director in 2011 and partner in 2016.
She was also responsible for leading the consumer and retail client coverage, the people said, asking not to be identified discussing personnel moves. Last year, she was involved in the separation of the Victoria’s Secret business from L Brands. She also worked on deals such as PepsiCo’s acquisition of SodaStream and the public listing of winter-clothing manufacturer Canada Goose. That brand used to be controlled by Bain.
Bain Capital started out in 1984, counting former Republican presidential candidate Mitt Romney as one of its co-founders. The firm oversees about $155 billion in assets such as private equity, credit and real estate.
Representatives for Goldman Sachs and Bain Capital declined to comment.
This article was provided by Bloomberg News.