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One of Goldman Sachs' most important M&A execs is leaving the bank
(Shannon Stapleton/Reuters) Goldman Sachs Group Inc. chairman and CEO Lloyd Blankfein during the plenary session titled "Equality for Girls and Women: 2034 Instead of 2134?" at the Clinton Global Initiative 2014 in New York in September.
Jack Levy is leaving Goldman Sachs after spending 15 years as an investment banker there.
Levy worked on Goldman's M&A team. He was one of four cochairmen of the practice.
The others — Paul Parker, Tim Ingrassia, and Gene Sykes — remain with the bank.
It isn't clear what will come next for Levy, who is 61.
The news was reported earlier in the day by The Wall Street Journal.
Before joining Goldman, Levy spent more than 20 years working for Merrill Lynch.
Right now, Wall Street is getting a boost as M&A chases highs not seen since 2007, the most recent market top. Between Tuesday's resignation at Goldman and Deutsche Bank's losing its M&A honcho Monday, it is possible that even Wall Street's top dealmakers are feeling fatigued.
Elsewhere on Wall Street, dealmakers say cheap money from the Federal Reserve will fuel more M&A activity this year.
This is the memo about Levy's departure that circulated around Goldman Sachs. A spokesman confirmed the contents of the memo.
After 15 years of distinguished service, Jack Levy, co-chairman of Global Mergers & Acquisitions, has decided to retire from the firm.
Jack joined Goldman Sachs as a partner in the Mergers & Acquisitions Department in 2000. He recently served as a member of the Partnership Committee, the IBD Client and Business Standards Committee and the IBS Leadership Group.
Jack played a critical role building and growing our M&A business by helping to establish the firm's leadership position across numerous industry groups. He led many of our most important merger transactions and built trusted relationships with our clients. In addition, Jack made it a priority to mentor and teach many of our banking professionals.
Throughout his career at Goldman Sachs, Jack demonstrated a strong commitment to the firm's business principles, and especially to providing thoughtful, honest advice to our clients. Please join us in thanking Jack for his dedication to the firm and to our people, and in wishing him and his family the best for the future.
Richard J. Gnodde
David Solomon
John Waldron
Wall Streeters! Have any updates or memos about boldface names on the move? You can tip us off here: jmarino@businessinsider.com.
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