Goldman Sachs has split its structured credit marketing group in order to beef up the structuring capability of two of its marketing groups. Christopher Barter and Calum Osborne, who were co-heads of structured credit marketing, have moved into leadership roles in separate marketing groups and the firm has also revamped its marketing efforts to pension funds and insurance companies, according to Barter. The structured credit marketing group previously sold structured credit products to banks, insurance companies and pension funds.
Barter is heading up the newly formed pension and insurance group. This is a joint venture between fixed income, currencies and commodities (FICC) and equities--in which the former pension services group was situated. Nigel O'Sullivan, who was head of the pension services group, now reports to Barter. An official at the firm added that Osborne is co-heading the bank and distribution team with Neil Wright and Nicolas Tiffou, who previously reported to Adam Barrett, head of the group. Barrett left the firm in December. Osborne, O'Sullivan, Wright and Tiffou did not return calls and Barrett could not be reached.
Goldman formed the pension fund and insurance team to market a wider variety of products to those companies to try to help them maintain solvency as waning equity markets have eroded their investment portfolios, Barter said.
