Goldman Sachs CEO for sub-Saharan Africa has resigned

Goldman Sachs

The sub-Saharan Africa chief executive for Goldman Sachs, Colin Coleman, has just resigned his appointment from the investment banking giant.

According to a report by Reuters News, 57 years old Coleman who ran Goldman Sachs’ in Johannesburg since 2000 is one of the country’s best-connected bankers, having nurtured ties with senior figures in the African National Congress (ANC) since being involved in the anti-apartheid movement in the 1980s.

The bank did not say who would replace Coleman, who will become a senior fellow and lecturer at Yale University’s Jackson Institute for Global Affairs, splitting his time between South Africa and the United States.

It would be recalled that Goldman Sachs is seeking a South African banking licence as part of plans to offer fixed income products, beefing up its African operations as global rivals scale back.

The bank said in a statement that Coleman’s departure is not expected to affect those plans.