Goldman taps Feldgoise, Schiffrin; Fidelity to cut 800 staffers

Published May 8, 2026 4:30 PM

Updated May 8, 2026 4:30 PM

1 Min Read

In this week's banking news roundup:

Goldman Sachs says Stephan Feldgoise and Joshua Schiffrin will join the firm's management committee.
Fidelity Investments is cutting 800 staffers as it restructures its technology and product-delivery teams.
Citi taps JPMorgan's André Ross as its country officer and banking head for South Africa, and more.

Goldman Sachs taps Feldgoise, Schiffrin to join bank’s top ranks

Goldman Sachs said Stephan Feldgoise and Joshua Schiffrin will join the bank's management committee, bolstering the firm's top decision-making group. Schiffrin is also set to become global head of risk for the firm's global banking and markets business, according to a statement Tuesday. Feldgoise leads the global mergers and acquisitions operation.

The bank also named Ericka Leslie as its chief administrative officer. She'll be tasked with helping to implement the bank's "OneGS 3.0" strategy.

Goldman's management committee has expanded vastly in the past two years, up to 47 members now. Early last year, the bank promoted a slate of star executives. In January, the bank bolstered its management committee with more additions from its wealth- and asset-management business.

Feldgoise and Schiffrin "each demonstrate a deep understanding of the firm's businesses, our client franchise, and global markets," Goldman Chief Executive Officer David Solomon said in the statement.

The Financial Times reported the promotions earlier. —Todd Gillespie, Bloomberg News

Fidelity to cut 800 staffers as it overhauls tech, product teams

Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams, with plans to hire several thousand more people, including junior employees. The changes, affecting about 1% of the global workforce, are about getting "the right combination of skills in place for where Fidelity is headed," a spokesperson for the Boston-based firm said in a statement Thursday. The company is looking to make more room for early career, hands-on engineering roles and streamline its senior leadership ranks.

Fidelity, the world's third-biggest asset manager, has grown rapidly in recent years and had $17.9 trillion of assets under administration at the end of March.

The firm is now looking to fill 1,300 product and tech-related roles by year-end as well as roughly 2,000 new early career positions, according to a person familiar with the matter.

Fidelity has increased its headcount by well over 50% in the past decade, hiring in areas such as financial planning and technology. Many of those people joined during the pandemic. —Greg Ryan and Loukia Gyftopoulou, Bloomberg News

Citi appoints JPMorgan’s André Ross as South Africa Head

Citi has hired André Ross from JPMorganChase as its country officer and banking head for South Africa."

In his new role, André Ross will act as the lead Citi executive in South Africa," the lender said in an emailed statement.

Ross most recently held the position of managing director and head of global corporate banking for sub-Saharan Africa at JPMorgan, and has previously held senior positions at Barclays and Absa Group. He replaces Peter Taylor as the head of Citi in South Africa.

South Africa's banking sector has seen a number of high-level moves in recent months, with Deutsche Bank's country head moving to Absa, which has also poached several dealmakers from Standard Bank Group.

Citi's presence in South Africa dates back to 1920, and the lender has become the largest foreign bank in Africa's biggest economy, it said. Ross brings expertise across the corporate and public sector in strategy and coverage. —Loni Prinsloo, Bloomberg News

SMBC adds to securitized products team as part of global push

Sumitomo Mitsui Banking Corp. has made several senior hires as it pushes to bolster its capabilities in securitized finance, a multitrillion market that's seen strong issuance this year despite pockets of stress.

The hires are part of a larger push to expand the bank's presence outside Japan and burnish its reputation as an investment bank with global reach.

In May, Tokyo-based Takashi Tamiya joined from BNP Paribas as a managing director to lead global securitized products syndication to investors in Japan. New York City-based Yoko Hasegawa joined from JPMorganChase as an executive director focusing on securitized products distribution in Asia. In late April, Risa Itoshima joined SMBC from HPS Investment Partners as an executive director focusing on European CLO structuring.

"Japan is a financial powerhouse but the investor base is very relationship driven and not necessarily easy to navigate," said Christine Ferris, head of securitized products at SMBC. "Our goal is to expand that reach further into the Americas and Europe, and we needed to make strategic hires to do that." —Scott Carpenter, Bloomberg News

German banks look to offload troubled loan on LA office tower

German lenders are looking to sell a nonperforming loan on the CalEdison Building in downtown Los Angeles, which has struggled to attract tenants.

Deutsche Pfandbriefbank and Münchener Hypothekenbank are seeking a buyer for the loan backed by the office tower at 601 W. Fifth St., according to people familiar with the plans who asked not to be named because the process is private.

Representatives for the lenders didn't immediately respond to requests for comment. BentallGreenOak, an owner of the building, declined to comment, while co-owner Rising Realty Partners didn't immediately respond to a request for comment.

The loan is being marketed by Eastdil Secured, which declined to comment, and Colliers, which didn't immediately respond to a request for comment.

The art deco property, built in 1931 as the headquarters for Southern California Edison, has 287,000 square feet of space across 14 floors. It was renovated in 2017 and is 43% occupied, according to marketing materials. —Natalie Wong, Bloomberg News