By Milana Vinn
Dec 15 (Reuters) – Goldman Sachs is restructuring its influential technology, media and telecommunications (TMT) investment banking group toward infrastructure and artificial intelligence deals, creating two new teams with new leaders, according to an internal memo seen by Reuters.
The bank is combining its telecommunications and “CoreTech” teams to form a new global infrastructure technology sector. The unit will be co-led by partners Yasmine Coupal and Jason Tofsky. Coupal, a partner since 2020, joined the bank in 2004, while Tofsky, who became a partner in 2022, started in 2008.
Within that new group, Kyle Jessen will become head of infrastructure technology M&A. Jessen, who was named partner in 2024, will also continue in his role as head of semiconductor coverage, a critical area amid the global focus on chip manufacturing and supply chains.
The second new sector is Internet and Global Media, which will be co-led by Brandon Watkins and Alekhya Uppalapati. Watkins, a partner since 2022, has been with the firm since 2010. Uppalapati is a managing director and joined in 2009.
A Goldman Sachs spokesperson confirmed the contents of the memo shared with bank employees on Monday.
The shakeup of one of Wall Street’s most powerful advisory teams highlights the changing landscape of technology and media, where deals are increasingly driven by the convergence of digital infrastructure, such as data centers, with core technology and the continued dominance of Internet platforms. The move positions Goldman to better take advantage of opportunities in these high-growth areas.
The changes are aimed at “enhancing our coverage model to serve our clients’ ambitions and objectives,” Jung Min and Barry O’Brien, global co-heads of the bank’s TMT group, said in the memo.
(Reporting by Milana Vinn in New York; Editing by Nick Zieminski)