Goldman Sachs Shakes Up Tech Teams for Digital Future

Goldman Sachs is mixing things up in its tech investment teams. They are merging their telecom and "CoreTech" teams to create a new group focused on digital infrastructure and AI deals. This new group, called Global Infrastructure Technology, will be led by Yasmine Coupal and Jason Tofsky. Coupal has been with the bank since 2004 and became a partner in 2020. Tofsky started in 2008 and was named partner in 2022. Kyle Jessen will now head up infrastructure technology M&A within this new group. Jessen, who became a partner this year, will also keep his role as head of semiconductor coverage. This is a big deal because chips are super important right now due to global focus on manufacturing and supply chains.There is also a new sector called Global Internet and Media. This one will be co-led by Brandon Watkins and Alekhya Uppalapati. Watkins has been with the firm since 2010 and became a partner in 2022. Uppalapati is a managing director who joined in 2009. The bank confirmed these changes in a memo sent to employees. This shake-up shows how technology and media are changing. Deals are now more about digital stuff like data centers and core tech, plus the big internet platforms. Goldman is trying to get ahead in these fast-growing areas. The changes are meant to help clients reach their goals better. That is what Jung Min and Barry O’Brien, the global co-heads of the bank's TMT group, said in the memo.