Goldman Names Aasem Khalil Head of LatAm Investment Banking

(Bloomberg) -- Goldman Sachs Group Inc. named Aasem Khalil head of investment banking for Latin America.

Khalil will keep his role as head of the investment-banking division for the southern region and serves as a diversity champion for investment banking in the Americas, according to a memo seen by Bloomberg. He was named managing director in 2008 and a partner in 2016.

“I’ve been to Latin America many times and am very excited with the new opportunity,” Khalil, who will also become co-head for the region with Ram Sundaram, said in a phone interview.

Goldman Sachs has been gaining business in Latin America equity capital markets as global coordinator on several top initial public offerings from Brazilian companies listed in New York. The bank had that role on a $2.25 billion IPO by Brazil’s biggest brokerage, XP Inc., in December. It’s also been providing equity investments and lending to fintechs in the region, including to Nu Pagamentos SA and MercadoLibre Inc.

The New York-based company plans to open a stock brokerage in Mexico, people familiar with the matter said last year.

“I have a background in equity capital markets, and expect to grow that business in LatAm, but also see prospects from an increase in M&A, since mergers help companies navigate periods of shrinking markets,” said Khalil, who joined Goldman Sachs in 1996.

M&A, Underwriting

The bank ranked third in Latin American investment-banking by fees from advising on mergers and acquisitions and underwriting debt and equity this year through Aug. 17, according to London-based research firm Dealogic. It was fifth in the same period a year earlier.

Khalil will remain based in Dallas, and plans to visit the Latin America team as soon as a vaccine against Covid is made available, he said. Gender and race diversity at both the junior and senior levels will be one of his priorities, he said.

He will replace Gonzalo Garcia, who was named co-head of the investment-banking division for Europe, the Middle East and Africa with Anthony Gutman.

The bank ranks second in Latin America international bond underwriting by volume this year, data compiled by Bloomberg show.

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