Kevin Sneader, the former head of management consultant McKinsey & Co, is to become co-president of Asia-Pacific at Goldman Sachs. It is a move that brings to mind some striking similarities between the two institutions.
Culturally, the two are comparable: partnerships that revel in their aura as the peak of their respective professions, safe choices for anyone who hires them, and with a touch of arrogance about their standing. Each is a magnet to young graduates, the ideal name to aspire to have on a CV.
Sneader, who was head of McKinsey in Asia before being elected to the top job in 2018, has no banking experience, but that matters less at a co-president level where so much of the job will be about relationships. Those he has in abundance, having joined McKinsey in 1989 and served in offices including Beijing and Hong Kong on the way to becoming global managing partner.
[Sneader has] international and Asia experience, and … deep relationships with global and Asian clients in multiple industries
Goldman chief executive David Solomon said in a note to staff that Sneader “will help manage our day-to-day operations and advance our businesses in the region, including in China, where we continue to make meaningful progress on our strategic plan”.
