GS cuts in Singapore but no change in strategy for SE Asia

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By John Loh, Mark Baker
05 Mar 2015

Departures from the Singapore office of Goldman Sachs since the start of this year do not reflect a big change of strategy towards the region, according to Matthew Westerman, head of the firm’s investment bank in Asia Pacific ex-Japan. But they have nonetheless come at a time when market activity in some areas has fallen and when other firms, like CIMB, have also been cutting back.

Westerman told GlobalCapital Asia this week that the departures at Goldman were the result of a combination of factors that included a need to reshape the team, performance, voluntary resignations and the winding down of a junior support team. There are thought to have been about 15 ...

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