Goldman Sachs named Pat Fels and Mike Nickols global co-heads of its financial institutions group, succeeding Pete Lyon, effective immediately.

Lyon and Mahesh Saireddy were tapped to lead Goldman's new capital solutions group this morning.

Fels and Nickols will lead the bank's FIG teams globally and across sectors.

Fels currently serves as head of FIG in the Americas and co-head of the insurance and wealth management sectors for FIG Americas. He is also co-chair of Goldman's firmwide commitments committee. He joined Goldman as an analyst in FIG in 1994 and was named managing director in 2005 and partner in 2012.

Nickols has responsibility for global asset management in FIG. He is also chief operating officer of firmwide alternative asset manager solutions and co-head of the Americas financial technology and asset management sector within FIG.

After joining Goldman in 2002, Nickols was named a managing director in 2013 and partner in 2020.

The bank divided responsibility for its mortgages and structured products trading between Anshul Sehgal and Jason Brauth following the promotion of Saireddy, who was global head of mortgages and structured products.

Sehgal, currently head of US interest rate products, will add responsibility for agency mortgage trading to his current duties.

Brauth, currently global head of credit trading, will be responsible for non-agency trading and collateralized lending risk in addition to his current duties.

Brauth joined Goldman in 2001. He was named managing director in 2008 and partner in 2012.

After joining Goldman in 2011, Sehgal was named managing director in 2013 and partner in 2018.

Source: IFR