Goldman veteran Rizzo is leaving

  • @BawdenTom

Luigi Rizzo, the veteran Goldman Sachs rainmaker, is leaving his position as managing director in the financial institutions group after 20 years at the US investment bank. Mr Rizzo, who worked on Barclays' deal with South Africa's Absa and the three-way merger of Spain's Liberbank, Ibercaja and Cajatres, became a partner in 2008.

He also worked on a giant recapitalisation plan for Spain's Bankia. Mr Rizzo's departure comes amid cost cuts at Goldman Sachs as the bank seeks to reduce expenses in the face of a tough banking market.