Richard Gnodde is co-chief executive officer of Goldman Sachs International and co-head of the global Investment Banking Division. During his 25 years at the bank he has held numerous posts in varying parts of the organisation.
Initially responsible for European mergers and acquisitions (M&A), Gnodde helped build Goldman Sachs into one of the most formidable M&A players in Europe, and eventually led the investment banking effort in the United Kingdom. Under his lead, Goldman Sachs took the lead adviser role on the £17 billion bid by Lakshmi Mittal, of Mittal Steel, for Arcelor.
After joining Goldman Sachs in 1987 and building the mergers and acquisitions business in Europe, Gnodde was named Managing Director in 1996 and appointed co-head of the Investment Banking Division in Japan in 1997. In 1998 Gnodde was appointed as partner at Goldman Sachs and became president of Goldman Sachs (Singapore) Pte. and co-head of Investment Banking in Asia in 1999. That same year, he moved to Hong Kong to become president of Goldman Sachs (Asia) LLC and played a leading role in expanding the firm’s overall Asian footprint, including securing access to China’s securities markets.
In 2005, Gnodde returned to London as vice chairman before being appointed co-Chief Executive Officer of Goldman Sachs International, and co-head of the global Investment Banking Division in 2011.
Gnodde is a strong advocate of social responsibility for organisations and believes that multi-nationals, in particular, have a responsibility to be integral to the communities in which they operate.
In 2008 Goldman Sachs launched 10,000 Women, a five-year initiative founded on research conducted by Goldman Sachs, the World Bank and other organisations to provide business and management education to female entrepreneurs in developing and emerging markets. The program’s aim is to drive greater shared economic growth, leading to stronger healthcare, education and greater prosperity in the communities in which it operates.
Leading on from the success of its 10,000 Women initiative, Goldman Sachs and The Goldman Sachs Foundation launched 10,000 Small Businesses, a US$500 million initiative in the United States and United Kingdom providing small businesses with greater access to business education,, and practical business support to help them create jobs and economic opportunities. As a global multi-national, Goldman Sachs recognises the pivotal role of small businesses in contributing to the economy. Based on research in the United States, small businesses have generated 64% of net new jobs over the past 15 years and represent 99.7% of all employer firms.
Gnodde is a regular speaker at industry events and contributor to business debates focusing on sustainable business development. In March 2012 he participated in an event organised by the Business in the Community (BITC) group, which held a two-day not-for-profit event bringing together global business leaders. The event set forward the practical strategies and insights required by business leaders to work together with employees, consumers, suppliers and communities to transform business and deliver economic, environmental and social value. Speaking at the convention held in London earlier this year he said: “A business has to be connected with its local community in a very direct and specific way.”
Gnodde serves as a trustee of the University of Cape Town Trust and The Foundation and Friends of the Royal Botanic Gardens, Kew. He is also a member of the Corporate Advisory Group of the Tate Modern art gallery in London.
He has been a member of the Goldman Sachs Management Committee since 2003 and also serves on the Client and Business Standards Committee and the European Management Committee. He served on the firm’s Partnership Committee from 1999 to 2004.
Gnodde earned a Bachelor of Commerce degree from the University of Cape Town and a Master’s degree in Law from Cambridge University.