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Jim O’Neill, chairman of Goldman Sachs’ asset management arm, is retiring, reports the Financial Times.
O’Neill is well known for predicting the growth of emerging markets. “In 2001 … O’Neill coined the acronym Brics to represent the potential of Brazil, Russia, India and China while head of economic research for the bank, and his own rise mirrored that of the countries he championed,” the report says.
It adds that “people familiar with Mr O’Neill’s decision said that his departure may have been motivated in part by frustrations over the status of Goldman Sachs Asset Management within the bank.”
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