Heather Arnold will join Goldman Sachs Asset Management in London as a portfolio manager for pan-European portfolios, effective May 2, according to an internal memo. She will replace Julian Abel, managing director and senior portfolio manager, who will retire from GSAM on May 2 to pursue a new career teaching math to middle-school students. Ms. Arnold will assume Mr. Abel's coverage of mining and metals, while his coverage of chemicals will be "absorbed within the industrials sector team led by Tara Connolly," according to the memo. Ms. Arnold was portfolio leader for Putnam Investments' Europe Equity Fund. On March 24, Putnam announced that she had decided to leave Putnam and would be replaced by Joshua L. Byrne, co-CIO for international core equity. Goldman Sachs spokeswoman Andrea Raphael declined to comment.