Goldman Sachs Group Inc’s (NYSE:GS) Japan President, Masanori Mochida, is reportedly stepping down after 38 years at the investment bank.
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The company fast-tracked the departure due to the need for fresh leadership amid increased competition for deals.
Mochida played a significant role in building Goldman’s Japan business, making it a major player in an industry previously dominated by domestic banks, Bloomberg reports.
His retirement comes at a renewed interest in investing in Japanese companies, driven by corporate governance reforms and greater acceptance of shareholder activism.
While it’s unclear what Mochida will do in retirement, he has expressed an interest in running a professional rugby team, co-writing a book on the subject in 2017 with former Japan national team coach Eddie Jones, the report adds.
Price Action: GS shares traded higher by 0.73% at $339.14 premarket on the last check Friday.
