NEW YORK, Jan 27 (Reuters) - Goldman Sachs ( GS ) on
Monday tapped veteran banker Stefan Duffner to lead the
investment bank's activism and shareholder advisory work in
Europe, Middle East and Africa (EMEA) at a time corporations are
increasingly asking for help to defend against activist
investors pushing for changes.
Duffner, who joined Goldman Sachs ( GS ) as an analyst in 2005 and
was promoted to managing director in 2017, will become the head
of ASA (activism and shareholder advisory) in EMEA in addition
to his responsibilities as head M&A for the consumer retail
group in EMEA, according to a memo to Goldman staff seen by
Reuters.
Goldman's global head of Activism and Shareholder Advisory,
Avinash Mehrotra, signed the memo along with Nimesh Khiroya and
Carsten Woehrn, who are co-heads of EMEA M&A.
Anne Bizien, who led the activism group in Europe for four
years, will focus on the bank's broader client franchise in
France. She was promoted to partner last year.
Goldman last year again ranked as the industry's top
financial adviser with 49 engagements, leading JP Morgan which
had 37 engagements, the Bloomberg Global Activism League Table
shows.
Goldman also said that Camila Rodriguez Bedoya will join the
activism defense group, taking on the role in addition to her
M&A role in the Financial Institutions Group in EMEA.
In the United States, Goldman is working with Honeywell ( HON )
which is being pushed by hedge fund Elliott Investment
Management to make changes, while in Europe it worked with
Rentokil when Trian Fund Management built a position and
with Reckitt, when Eminence Capital built a stake.
Activism defense work is becoming increasingly important
for banks and even smaller players are adding teams to offer
these services to clients who may be coming under threat. In
2024, a record number of activist shareholders, including 45
newcomers who deployed the strategy for the first time, mounted
campaigns at global companies and corporations are bracing for
more fights this year, bankers and lawyers said.