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MOVES-Goldman Sachs appoints Olafson as global head of private credit -memo

Saeed Azhar and Tatiana Bautzer
·1 min read

(Adds context in paragraph 1, memo details in paragraph 3)

By Saeed Azhar and Tatiana Bautzer

NEW YORK, Dec 11 (Reuters) - Goldman Sachs appointed Greg Olafson its global head of private credit as it aims to expand a business that has $110 billion of assets under management, according to a memo seen by Reuters.

The Wall Street giant also appointed James Reynolds as global head of direct lending and Kevin Sterling as global head of investment grade private credit and asset finance, according to a memo from Marc Nachmann, the bank's global head of asset and wealth management.

The leadership moves aim to "capitalize on the significant growth of the private credit industry," Nachmann wrote. Goldman has been active in private credit for three decades and expects that growth to accelerate.

The appointments were reported earlier by Bloomberg News. (Writing by Tatiana Bautzer in New York; Reporting by Saeed Azhar; Editing by Mark Porter, Lananh Nguyen and Nick Zieminski)