Goldman names Ben Snider chief US equity strategist as Kostin retires, memo says

(Reuters) – Goldman Sachs has named Ben Snider as its new chief U.S. equity strategist, succeeding veteran David Kostin, who is set to retire at the end of the year, according to an internal memo seen by Reuters on Thursday.

Snider, who joined Goldman as an analyst in 2010 and became managing director in 2017, will lead the U.S. Portfolio Strategy team, the memo said, adding that he will represent the bank’s views on equities in media and client forums.

Kostin, at Goldman since 1994, will move into an advisory director role. He was named managing director in 1998 and partner in 2010.

Kostin also helped develop the Goldman Sachs Hedge Industry VIP ETF and was a frequent media commentator on equities.

He will work with Snider over the coming months to ensure a smooth transition, the memo added.

The retirement plan was first reported by Bloomberg News.

On Tuesday, Goldman also announced the retirement of Fadi Abuali, co-chief of its Middle East and North Africa business.

(Reporting by Saeed Azhar in New York and Prakhar Srivastava in Bengaluru; Editing by Maju Samuel)