Goldman Sachs has named a new head of its global special situations group, the elite division that invests in and lends to companies.
Julian Salisbury is to become head of the division, replacing Jason Brown, who is retiring from the Wall Street firm, Goldman said Wednesday in internal memos obtained by DealBook.
Mr. Salisbury, who has run the European special situations group from London, is moving to New York for the new role.
Mr. Brown, a 13-year veteran of Goldman, became the head of the group in 2011, succeeding Richard Ruzika. He joined Goldman’s specialized credit trading group in London in 1999, before moving to the Asian special situations group the following year. He became head of that group in 2007.
“Jason’s leadership has been instrumental in the design and execution of a realigned investment approach” in the special situations group, said the memorandum from Isabelle Ealet and Pablo J. Salame, co-heads of Goldman’s securities division.
“Under his oversight the business has operated as a cohesive global unit with a consistent and disciplined investing approach,” the note continued. “In addition to his substantial commercial contributions, Jason has also been influential in developing and mentoring our people.”
Before leading the European special situations group, Mr. Salisbury worked in Moscow, expanding the group’s business, according to the internal communication. He helped found the European group in 2003, and joined Goldman in 1998.
Mr. Brown, who once worked at Bear Stearns, was named a partner of Goldman in 2006. Mr. Salisbury became partner in 2008.