Goldman Sachs' veteran Michelle Pinggera to retire from bank

Hayley Kirton
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Pinggera is departing just months after it was announced Sherwood was leaving (Source: Getty)

Goldman Sachs' international chief of staff is to step down after 28 years at the Wall Street titan.

Michelle Pinggera, who also has some responsibility for overseeing the bank's Brexit plans, is due to leave the investment giant at the end of March, around the same time the Prime Minister will trigger Article 50.

In a memo obtained by Sky News, which first reported the story, Pinggera was praised by top dogs at the bank, although it did not make clear what the succession plans were in place.

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The announcement of Pinggera's departure comes just months after it was revealed Goldman Sachs' European boss Michael Sherwood was leaving after 30 years with the bank. His final year with the bank was somewhat overshadowed when he was grilled by MPs over his involvement in the collapse of high street retailer BHS.

Meanwhile, Goldman Sachs chief executive Lloyd Blankfein is among banking bosses meeting with Prime Minister Theresa May in Davos today, just days after she laid out her vision for Brexit in a landmark and long-awaited speech.

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German newspaper Handelsblatt earlier reported Goldman Sachs was thinking of halving its 6,000-strong London workforce and moving roles elsewhere because of Brexit. A spokesperson for the bank has since said no final decision had been made and there were still "numerous uncertainties" as to what the Brexit negotiations would bring.

The bank also reported bumper fourth quarter results yesterday, thanks to a busy market for bonds around the time of the US election.

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