Following the acquisition of NextCapital Group, Goldman Sachs Asset Management (GSAM) announced several leadership changes within the defined contribution (DC) and retail retirement space.
With the retirement market representing $24 trillion of assets across DC plans and IRAs, the firm believes the acquisition of NextCapital will help establish it as the market expert in customized retirement solutions.
To that end, GSAM has shared that the following individuals within its Multi-Asset Solutions (MAS) and Engineering teams will assume leadership roles.
- Chris Lyon will become head of DC investments across Goldman Sachs Asset Management, focusing on business and product strategy for both managed accounts and DC more broadly.
- John Patterson, previously chief executive officer of NextCapital, will become head of the DC product within MAS and will focus on expanding the NextCapital offering.
- Eliza Hollyday will continue as chief operating officer for MAS. As it relates to NextCapital, she will focus on key integration initiatives, revenue optimization and DC product strategy.
- Jon Hagen, previous chief technology officer of NextCapital, will become head of DC Engineering.
- Chetan Mehendiratta has joined Asset Management as head of NextCapital Integration Engineering to help ensure a cohesive integration between the NextCapital technology stack and the Asset Management platform.
Across Client Solutions & Capital Markets (CSCM), over 20 professionals will be focused on DC and retail retirement solutions, including the following who will assume leadership roles.
- Lauren Oakes will become head of DC client strategy. In this role, she will drive the sales strategy of the firm’s managed account capabilities directly to plan sponsors and collaborate with client leaders both within Asset Management and across the firm.
- Dirk Quayle, previously president of NextCapital, will become head of DC platform strategy. In this role, he will continue to lead relationships with enterprise clients of NextCapital, as well as work with other leaders across the firm to expand connectivity with key platform partners for broader distribution of managed account capabilities.
- Erik Karpinski will continue to lead the Retirement Solutions Group including the team of regional sales directors and product specialists responsible for managing relationships with DC clients and advisors for both retirement focused investment products and the Goldman Sachs Workplace Retirement Solution.
- Damon Dunkel joined the firm in CSCM, where he will help shape and drive coverage of plan sponsors as a DC client advisor. Dunkel most recently was vice president of Managed Accounts at Fidelity.
