Sheila Patel. chairman of Goldman Sachs Asset Management (GSAM) is leaving the $1.8 trillion division after almost two decades at the firm, reported Bloomberg on Dec. 28.
Patel, 51, joined Goldman Sachs in 2003 as a managing director and was named partner in 2006. She will step down from the partnership and become an advisory director in the new year, Chief Executive Officer David Solomon said in a memo to staff Monday, Bloomberg reported.
In her role at GSAM, Patel leveraged her knowledge of portfolio solutions, sustainable finance, emerging growth themes, governance and other key long-term trends to advise clients, according to her biography on the Goldman Sachs website. Patel also oversaw GSAM’s Environmental, Social and Governance (ESG) and impact investment initiatives.
Patel serves on Firmwide Management Committee, European Management Committee, the Sustainable Finance Steering Group and the Goldman Sachs Leadership Development Initiative.
Prior to her current role, Patel served as Co-Head of Equities Distribution in Asia and was Head of US Derivative Sales and US Synthetics Sales in the Equities Division.
She was head of Trading Strategy at Morgan Stanley for seven years before joining the Goldman Sachs.
Patel is a board member of the Pacific Pension & Investment Institute and a member of 100 Women in Finance. She is a member of Princeton University’s Global Leadership Committee, Women in Leadership Initiative and sits on the Advisory Council for the MS Chadha Center for Global India. Ms. Patel serves as an honorary board member of EcoHealth Alliance and is also a board advisor to GallopNYC.
“Sheila has contributed to our culture, including by serving as a mentor to many Goldman Sachs professionals around the world,” Solomon added in the memo. “I look forward to benefiting from her continued counsel.”