Goldman’s sub-Saharan Africa CEO Coleman to leave firm

U.S. investment bank Goldman Sachs said on Tuesday that its sub-Saharan Africa chief executive, Colin Coleman, would retire from the firm at the end of the year.

Coleman, 57, has headed Goldman’s Johannesburg office since 2000 and is one of the country’s best-connected bankers, having nurtured ties with senior figures in the ANC since being involved in the anti-apartheid movement in the 1980s.

Goldman did not say who would replace Coleman, who will become a senior fellow and lecturer at Yale University’s Jackson Institute for Global Affairs, splitting his time between South Africa and the United States.

The Wall Street bank is seeking a South African banking licence as part of plans to offer fixed income products, beefing up its African operations as global rivals scale back.

Coleman’s departure is not expected to affect those plans.