Banyan - September 2023

Goldman Sachs Appoints David Kamo as Global Head of Financial Sponsor M&A

Goldman Sachs

Goldman Sachs is appointing David Kamo as its global head of financial sponsor mergers and acquisitions (M&A).

Kamo’s new role will involve leading the bank’s efforts in working with clients such as private equity firms and alternative asset managers, Reuters reported on Tuesday (Oct. 24). He will facilitate transactions involving buying and selling companies across clients’ portfolios, Reuters said, citing an internal memo it had seen.

The memo, confirmed by a Goldman Sachs spokesperson, highlighted Kamo’s responsibility in overseeing the M&A activities of financial sponsors, according to the report. 

Kamo will also continue to head the cross markets M&A division at Goldman Sachs, which focuses on providing advisory services to middle market businesses. This dual role positions Kamo to contribute to the bank’s efforts in assisting smaller businesses with their M&A activities.

Kamo joined Goldman Sachs in 2016 and became a partner in 2020. Prior to his tenure at Goldman Sachs, Kamo spent 10 years at Lehman Brothers and Barclays. 

This move by Goldman Sachs reflects the growing importance of M&A activities in the financial sector. As companies continue to seek growth opportunities and strategic partnerships, M&A transactions have become integral to their strategies. 

The FinTech industry, as PYMNTS has reported, has been relying on M&As and alternative funding to stay afloat in a turbulent economy. 

Rising interest rates, high inflation and lower consumer spending have led to a sharpened focus on belt-tightening among venture capital investors in the last year, putting pressure on FinTech companies as they make a struggle toward profitability

In this environment, alternatives like angel investing, government funds and corporate partnerships are gaining traction, as FinTechs use them to complement traditional methods of funding as they seek new avenues for growth and survival, PYMNTS reported in August. 

Consequently, banks and FinTechs, once fierce competitors, are dropping their guard and joining forces in mutually beneficial alliances and partnerships, according to the “FinTech Tracker® Series Report.”