Goldman Sachs has appointed Ben Frost, a leading consumer retail banker, as chairman of investment banking. The announcement, made via an internal memo on Wednesday, follows Frost’s leadership on two significant sector deals last year. Goldman Sachs is a leading global investment banking, securities, and investment management firm. The company provides a wide range of financial services to a substantial and diversified client base.
Frost, who joined Goldman Sachs in 2018, most recently served as co-head of the global consumer and retail group. According to a separate memo, Cosmo Roe and Milan Hasecic will now take over as global co-heads of that group. Goldman Sachs has consistently held the top position in global consumer and retail mergers and acquisitions (M&A) for the past five years, based on data from LSEG.
Last year, Goldman Sachs advised Kenvue on its almost $50 billion acquisition by Kimberly-Clark, and private equity firm Sycamore Partners on its approximately $24 billion purchase of Walgreens Boots Alliance. Frost will continue to focus on the consumer and retail sectors, expanding his responsibilities to encompass a broader range of client engagements across the franchise.
According to the memo, Frost’s leadership over the past five years as co-head of the global Consumer & Retail Group has driven commercial expansion and set new standards for client service. Roe, who joined Goldman Sachs in 2007, previously served as global head of luxury and beauty and global head of consumer technology. Hasecic joined the bank in 2017 and is currently head of the consumer retail group in Europe, the Middle East and Africa (EMEA).
