Goldman Sachs Asset Management Chairman Jim O’Neill to Retire

Goldman Sachs Group Inc. economist Jim O’Neill, who bound Brazil to Russia, India and China to form the BRIC investing strategy, will retire this year.

O’Neill, 55, will step down from his current role as chairman of the asset-management division, which he has held since 2010, the New York-based firm said yesterday in a statement. He joined the company in 1995 as a partner, became head of global economics, commodities and strategy research in 2001 and was added to the European management committee in 2006.