MONEY MANAGEMENT

GSAM appoints global head of emerging markets

Sam Finkelstein was named global head of emerging markets at Goldman Sachs Asset Management.

The position is new. Mr. Finkelstein, a managing director, was head of emerging markets debt at the firm and the new role includes those responsibilities of leading emerging markets debt and currency. In addition, he leads the fundamental emerging market equity franchise, said a letter to GSAM clients obtained by Pensions & Investments.

Further, Basak Yavuz and Hiren Dasani were appointed co-heads of emerging markets equity. They replace Prashant Khemka, chief investment officer and portfolio manager for global emerging markets and India equity strategies. Mr. Khemka left to pursue other opportunities, said the letter.

Ms. Basak and Mr. Dasani were portfolio managers in the emerging markets equity team and retain those responsibilities. Mr. Dasani will relocate to Singapore from Mumbai.

Mr. Finkelstein and the team are responsible for $47.1 billion in assets under management.

"We believe the leadership structure will help us better serve you by increasing collaboration amongst our investing teams. There will be no change to the investment philosophy and process for our global emerging market equity and India equity portfolios as well as our emerging market debt investment process," said the letter.

GSAM has $1.37 trillion in assets under supervision, and has recently been a focus area of growth for parent group Goldman Sachs Group (GS).

A spokesman for GSAM confirmed the appointments.