Bloomberg News reports that Murphy will run the group along with Craig Packer, according to an internal memo obtained by Bloomberg News.
Speculative-grade companies sold a record $355.4bn of bonds last year and sold $522.3bn of leveraged loans to institutional investors, according to data compiled by Bloomberg. Goldman was the sixth-largest arranger of junk bonds and the seventh-biggest underwriter of institutional loans.
In the meantime, Bloomberg also reports that Eugene Qian, Citigroup’s China head of corporate and investment banking, and Roger Zhu, investment banking head in the country, have left the bank, four people familiar with the matter said.
James Hu has been appointed chief operating officer of China investment banking, two people said. Chris Laskowski becomes interim head of the division, said Richard Tesvich, a spokesman for the lender in Hong Kong, who declined to comment on the departures or Hu’s appointment.