UK – Paul Richards, the director of institutional business at London-based asset management group, Friends Ivory & Sime (FIS), is leaving the firm to become part of the business development team at Goldman Sachs Asset Management (GSAM).

Richards will report to Oliver Bolitho, an executive director at GSAM in London who heads up the business development team.

Richards will initially take care GSAM’s relationships with its consultants.

GSAM currently has some €273bn in global asset under management.