Goldman Sachs (GS) promoted Ben Frost, the firm’s top consumer retail banker, to chairman of investment banking, after he led the bank on two of the sector’s biggest deals in the past year, according to a media report.
Reuters reported the promotion on Wednesday, citing an internal memo. A person familiar with the matter confirmed the report to Seeking Alpha.
Frost, who joined Goldman in 2018, was most recently co-head of the global consumer and retail group, part of the investment banking unit. In 2025, the bank advised Kenvue on its ~$50B deal to be acquired by Kimberly-Clark (KMB) and Sycamore Partners in its ~$24B of Walgreens Boots Alliance.
A separate memo named Cosmo Roe and Milan Hasecic as new co-heads of the global consumer and retail group.
Goldman Sachs (GS) declined to comment to Seeking Alpha.
Goldman Sachs stock rose 2.0% in late morning trading on Wednesday.