Goldman Sachs Group disclosed the departures of three senior executives from its merchant banking business in the latest top-level reshuffle at the firm, the Wall Street Journal reported on Friday. Partners Muneer Satter, Gerald Cardinale and Hughes Lepic resigned after serving more than 20 years each at Goldman, but were not pushed out of the firm, the paper quoted people familiar with the matter as saying.
The Wall Street Journal said the bank disclosed the departures and some promotions in four internal memos signed by Richard Friedman, head of the merchant banking unit and a member of Goldman's managing committee.