London Daily

Focus on the big picture.
Saturday, Jun 21, 2025

Goldman lures former Bank of England chief Fried as next international chair

Goldman lures former Bank of England chief Fried as next international chair

Sir Bradley Fried will replace Jose Manuel Barroso, the former European Commission president, as chairman of Goldman Sachs International in February.

The former head of the Bank of England's governing body is to chair the bulk of Goldman Sachs' operations outside the US - one of the most influential jobs at the Wall Street titan.

Sky News has learnt that Sir Bradley Fried, who stepped down as chair of the Court of the Bank of England only six months ago, will be announced next week as the new chairman of Goldman Sachs International (GSI).

Sir Bradley will replace Jose Manuel Barroso, the former European Commission president, whose appointment to the role at the world's most prominent investment bank in 2016 ignited a firestorm in Brussels.

Mr Barroso will become chair of Goldman Sachs International Advisors in February, where he will advise the firm's executives on global strategic issues.


Jose Manuel Barroso

Sources said that Sir Bradley's appointment as chairman of GSI would be subject to regulatory approval, although his appointment as a board director would not require such approval.

As a former non-executive director of the Financial Conduct Authority, he will bring a substantial volume of financial services regulatory expertise to Goldman.

The bank's London base employs about 6,000 people, which is broadly comparable to the size of its pre-Brexit workforce.

Goldman has, however, increased its headcount on the Continent since Mr Barroso was appointed as GSI chair in 2016.

Like many banks, Goldman has been obliged by the European Central Bank to relocate many functions previously performed in London to European Union countries.

Goldman Sachs offices in central London


Sir Bradley's appointment comes during a period of profound change at Goldman, with chief executive David Solomon under pressure to deliver an improvement in its profitability.

It was reported this week that Mr Solomon was preparing to cut as many as 4,000 jobs, or about 8% of its global workforce.

On Saturday, it was unclear how many of those prospective redundancies might affect its UK-based operations.

Goldman shares have performed poorly this year, having fallen almost 10%, even as many banks are seeing their valuations bolstered by rising interest rates in major economies.

Assuming his appointment is approved by regulators, Sir Bradley will take over as chairman of GSI at the beginning of February.

He was previously chief executive of Investec Bank, a partner at McKinsey, the global management consulting firm, and was a co-founder of Grovepoint Capital, a private investment firm.

Sir Bradley, who was replaced as chair of the Bank of England Court by David Roberts, is also a governor of the London Business School.

Among his longer-term assignments at GSI is likely to be working with a new chief executive of the division.

Richard Gnodde, the current CEO, has held the role either solely or in a joint capacity since 2006, and is one of the City's most senior figures.

Earlier this year, Todd Leland, another Goldman veteran, was named president of GSI, potentially putting him in the frame to succeed Mr Gnodde.

A spokesman for Goldman Sachs declined to comment this weekend.

Newsletter

Related Articles

0:00
0:00
Close
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
×