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Goldman names new co-head of internal client services initiative

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FILE PHOTO: A sign is displayed in the reception of Goldman Sachs in Sydney
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NEW YORK (Reuters) - Goldman Sachs Group Inc named Kim Posnett as the new co-head for an internal client services initiative called One Goldman Sachs, according to a memo seen by Reuters on Monday.

Posnett, currently the global head of investment banking services, will work with co-head Sam Morgan to integrate the bank's business divisions and improve how Goldman serves some of its biggest clients, according to the memo, which was signed by Chief Executive Officer David Solomon.

The initiative has been part of Solomon's vision for how to grow the bank since he became CEO in late 2018. By improving collaboration, Goldman hopes to gain more business from existing clients and improve its market share in a number of areas.

Posnett also will continue to lead investment banking services, where she handled client coverage strategy and the network of advisory relationships.

(Reporting by Elizabeth Dilts Marshall; Editing by Paul Simao)