Evercore Poaches Goldman's Tech Banking Co-Head

Goldman Sachs Group, Inc GS loses its investment banker Tammy Kiely to Evercore Inc EVR.

Kieli, who had been at Goldman since it went public in 1999, was also co-head of the firm's technology investment-banking group, Bloomberg reports.

Goldman persuaded Kiely to stay in 2018 after she had agreed to join 

Morgan Stanley MS, offering her an expanded role — initially to service a larger group of clients — before elevating her in 2019 to run technology investment banking alongside Ryan Limaye.

Also Read: Goldman Sachs Sees Significant Upside From ChatGPT Frenzy Amid Odds - Only Caveat: Government Policy

She had a role in several major semiconductor deals and counted Qualcomm Inc QCOM, Intel Corp INTC, and Nvidia Corp NVDA among her roster of clients.

In 2023, Evercore roped in another Goldman banker — software banking head Nick Pomponi. 

The U.S. banks prepared for recession amid bank insolvencies and lower risk appetite. In June, Goldman Sachs voiced expectations of a mini stagflation scenario amid sluggish growth and higher inflation. It predicted a stricter environment for capital markets and financing due to the lower risk appetite of its clients.

Federal Reserve Chairman Jerome Powell emphasized the necessity of financial institutions maintaining health in light of Silicon Valley Bank's and Signature Bank's recent collapses. He hinted at a potential 20% rise in bank capital requirements from present levels.

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