) dealmaker to build up its industrials team as it seeks to win more business in one of the sectors hardest-hit by the coronavirus outbreak, three sources told Reuters.
The Wall Street bank has hired Diego Fortunati as a managing director looking after industrials mergers and acquisitions across Europe, the Middle East and Africa, the sources said, speaking on condition of anonymity as the matter is private.Goldman’s move to bet on M&A comes amid a drought in deal-making as companies are still gauging the devastating economic effects of the pandemic and seeking emergency aid to withstand a coronavirus-related cash drain.
The number of deals also fell 20% year-on-year and last week, for the first time of any week since September 2004, there were no merger and acquisition deals worth more than $1 billion announced worldwide. His appointment plugs a gap in Goldman’s wider M&A team after its EMEA financial sponsors M&A head, Antonio Gatti, recently quit to join private equity fund Investindustrial.
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