Golman Sachs beefs up cash management team

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UK- Goldman Sachs Asset Management has added to its cash management team with the appointment of Richard Norval as executive director with the European cash sales team.

In his new position, Norval will cover UK corporations and European financial institutions, and will report to Andrew Ellis, head of the European cash business at Goldman Sachs AM.

Prior to joining Goldman Sachs, Norval was with Barclays Global Investors for two years in a similar role. BGI has yet to name a successor.

Norval’s position has been created in a move by Goldman Sachs to expand its cash management business. Cash funds have become increasingly popular following recent market volatility.

Norval joins a team of three but there are no plans to hire anyone else.

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