Top Goldman Sachs Group Inc. dealmaker Michael Carr is retiring from the firm, according to an internal memo.
Carr, 64, co-headed Goldman Sachs’ dominant mergers and acquisitions advisory group through the biggest takeover boom ever, as the firm helped put together jumbo deals including CVS Health Corp.’s $70 billion purchase of health insurer Aetna Inc. and Abbvie Inc.’s $63 billion pact for Allergan Plc.
A partner before Goldman Sachs went public, Carr is known as an old-school, generalist rainmaker, advising on everything from aerospace and defense deals to consumer products and natural-resources transactions.
“Over the course of his extensive career at the firm, Michael has been the consummate adviser to our clients’ corporate boards,” Goldman Sachs Chief Executive Officer David Solomon said in the memo. “Michael’s leadership and thoughtful advice, including most recently in his role as co-chairman of global mergers and acquisitions, have contributed to Goldman Sachs’ longstanding position as the leading M&A advisory firm.”
A representative for Goldman Sachs confirmed the contents of the memo.
Carr joined Goldman Sachs as a partner in 1998 from Salomon Smith Barney. During his tenure, he helped oversee the firm’s industrials, natural resources and Americas advisory practices before becoming global co-head of M&A in 2015. In 2020, he was named co-chair of global M&A, consistent with its practice of placing top bankers in roles where they can dedicate time to clients rather than management.
He has agreed to stay on as an advisory director at the firm, according to the memo.
--With assistance from Sridhar Natarajan.
This article was provided by Bloomberg News.