Goldman Sachs names Hitchner to succeed Schwartz in Asia Pacific
Goldman Sachs has named Ken Hitchner to succeed Mark Schwartz as chairman and chief executive officer of Goldman Sachs in Asia Pacific ex-Japan, various media organisations are reporting.
Hitchner is currently president of the Asia Pacific operation, according to the reports, which are based on an “internal” memo that has apparently made the rounds of newsrooms around the world. The company hasn’t formally announced the appointment, and his profile on the company’s website continues to show him in his previous role.
Schwartz retired from the bank at the end of last year, after 27 years with the New York-based bank.
According to Goldman, Hitchner has been in his current role for the past four years, and is also a member of the company’s management committee, as well as co-chair of the Goldman Asia Pacific management committee.
Since joining the company as a “summer associate” in 1992, he has held a number of roles across Goldman Sachs’s healthcare banking, global medical device banking, and pharmaceuticals operations, and was made a partner in 2002.
Prior to joining Goldman he served a stint as a lieutenant commander and naval aviator in the US Navy, and received an MBA from Columbia University in New York.
Taking over Hitchner’s duties as president of Goldman’s Asia ex-Japan operations, as co-presidents, will be James Paradise and Todd Leland, according to the reports of Hitchner’s appointment, which note that they will work closely with Hitchner and Masa Mochida, president of Goldman Sachs Japan.
Paradise is currently co-head of Goldman’s Securities Division franchise in Asia Pacific, and based in Asia, while Leland is currently working as global co-head of the company’s Financial Institutions Group, a part of its Investment Banking Division, and based in London.