Goldman Sachs has announced that Ken Hitchner will become President of the firm in Asia Pacific Ex-Japan, with day-to-day responsibility for all of the firm's businesses in the region.
He will be based in Hong Kong and will work closely with Mark Schwartz, Chairman of Goldman Sachs Asia Pacific, and Masa Mochida, President of Goldman Sachs Japan.
Hitchner is a senior investment banker and is currently global head of the Healthcare Banking Group and global co-head of the Technology, Media and Telecom Group. He joined Goldman Sachs in 1991 in the Corporate Finance Department and joined the Healthcare Banking Group as a founding member in 1995. He became head of Goldman Sachs’ global medical device banking practice in 1998 and head of the global pharmaceutical banking practice in 2001. He was named managing director in 2000 and partner in 2002.
Prior to joining the firm, Hitchner was a lieutenant commander and naval aviator in the US Navy. He is an adjunct professor at Columbia Business School and a trustee and member of the board of Meridian Health Systems and Monmouth University. He is also a member of the BioFrontiers Institute Advisory Board at the University of Colorado.
Lloyd Blankfein, Chairman and CEO, said: 'Asia Pacific is critical to the firm’s global strategy and we remain committed to investing in this region to support our clients. Ken’s deep knowledge of key industry sectors that are growing at a fast pace in Asia Pacific, and his experience serving global clients in complex strategic environments, will provide valuable support to our client franchise'.
Hitchner's appointment becomes effective later this year upon the retirement of David C. Ryan, which was also announced Monday.
Ryan, currently the President of Goldman Sachs in Asia Pacific Ex-Japan, joined Goldman Sachs in 1992 as a financial analyst in the Investment Banking Division (IBD). In 2005 he moved to Hong Kong to head the Financing Group in Asia Ex-Japan, and in 2008 he relocated to Singapore to become Chairman of South East Asia. He was named head of IBD in Asia Pacific Ex-Japan in 2010 and assumed his current role in 2011. On his retirement, Ryan will become a senior director of the firm.
'We thank David for his many contributions to the firm and to the region during his more than two decades of service, particularly his significant role in driving the growth of our franchise and our strategy in Asia Pacific', said Blankfein.