Goldman Sachs Places Andrea Vella on Leave Over 1MDB Case

(Bloomberg) -- Goldman Sachs Group Inc. has placed Andrea Vella, its former co-head of investment banking in Asia, on leave, according to a person briefed on the decision.

Vella was put on leave over his role in the firm’s involvement with Malaysia’s 1MDB corruption case, pending review of the allegations, said the person, who asked not to be identified without authorization to speak publicly. Vella was demoted last month.

Key Insights

  • Vella matches the description of “Co-Conspirator #4” in the Justice Department’s filings related to charges unsealed Thursday. Vella, like the individual described in the filings, is an Italian citizen who joined the bank in 2007 and was a partner at the firm.
  • Goldman Sachs has said former senior banker Tim Leissner deliberately hid certain activities from the bank. The Justice Department said Thursday that Co-Conspirator #4 knew of Leissner’s activities and helped him go around the firm’s compliance officers.
  • Vella was moved out of a management role last month, when Todd Leland was named head of the investment bank in the Asia-Pacific excluding Japan region.

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