Michael Goldstein was named a managing director and co-head of the global high-yield and bank loan team on Goldman Sachs Asset Management's fixed-income platform, confirmed spokeswoman Melissa Daly.
He replaces Roberta Goss, who left GSAM last month. Mr. Goldstein joins the team's two other co-heads, Rachel Golder and Rob Cignarella.
Ms. Goss couldn't immediately be reached for comment.
Mr. Goldstein was a partner and director of high yield at Lord Abbett, responsible for mutual funds and separately managed accounts. Steven Rocco, a portfolio manager covering high-yield and investment-grade corporate bonds, replaced Mr. Goldstein as lead portfolio manager for the $1.1 billion Lord Abbett High Yield fund, spokeswoman Marisha Mistry said. She said Mr. Rocco will also take over Mr. Goldstein's other duties.