Goldman Sachs is reorganising its technology, media, and telecom (TMT) investment banking group, according to an internal memo seen by Reuters. The restructuring aims to capitalise on emerging opportunities in infrastructure deals and artificial intelligence. Goldman Sachs is a leading global investment bank that provides a wide range of financial services to a substantial and diversified client base, including corporations, financial institutions, governments and individuals. The company offers investment management, securities, and investment banking services.
The bank is combining its telecom and ‘CoreTech’ teams to establish a new Global Infrastructure Technology sector. Partners Yasmine Coupal and Jason Tofsky will co-head the new sector. Coupal joined the bank in 2004 and was made partner in 2020, while Tofsky started in 2008 and became a partner in 2022. Kyle Jessen will become head of infrastructure technology M&A within the new group. Jessen, appointed partner in 2024, will also continue leading semiconductor coverage, a key area given the global emphasis on chip manufacturing and supply chains.
The second new sector, Global Internet and Media, will be co-headed by Brandon Watkins and Alekhya Uppalapati. Watkins, a partner since 2022, has been with the firm since 2010. Uppalapati is a managing director who joined in 2009. A spokesperson for Goldman Sachs confirmed the contents of the memo that was shared with employees earlier in the week.
The reorganisation reflects the evolving technology and media landscape, where dealmaking is increasingly driven by the convergence of digital infrastructure and core technology, alongside the ongoing influence of internet platforms. Jung Min and Barry O’Brien, the global co-heads of the bank’s TMT group, stated in the memo that these changes are intended “to enhance our coverage model to serve our clients’ ambitions and objectives.”
