Goldman Sachs Asset Management Taps 'BRICs' Creator As Chairman

Sep 10 2010 | 1:40pm ET

Goldman Sachs Asset Management has named Jim O’Neill as chairman. Most recently, O’Neill was head of global economics, commodities and strategy research for Goldman, Sachs & Co., where he managed the firm’s economics, strategy and commodity research teams.

“Jim brings broad experience across asset classes, a track record of identifying important investment trends and strong relationships with clients around the world,” said Ed Forst and Tim O’Neill, global co-heads of the investment management division of Goldman Sachs. “His powerful voice in the global investment community will help us continue to demonstrate the value we add for our clients.”

O’Neill will remain based in London and will report to Forst and O’Neill. He will work closely with divisional management and with portfolio management teams on developing innovative strategies for clients. He will also continue to write about his views in this newly-created role designed to leverage his global perspective on world markets.

O’Neill is best known as the creator of the acronym BRICs. Together with his colleagues, he has published extensive research about BRICs, which has become synonymous with the emergence of Brazil, Russia, India and China as the growth opportunities of the future.

Prior to joining Goldman Sachs in 1995, O’Neill was head of research globally for Swiss Bank Corporation. He also held positions with Bank of America and International Treasury Management, a division of Marine Midland Bank.

Goldman Sachs is winding down equity its prop. trading desk, and industry watchers believe that some of its best talent may end up in the its asset management unit.

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