Goldman Sachs' co-head of Europe to step down

London

MICHAEL S Sherwood, a Goldman Sachs vice-chairman and co-head of its European division, will retire from the Wall Street firm at the end of the year.

Mr Sherwood, who is also known as Woody, had previously been seen as a potential successor to Lloyd C Blankfein, the Goldman Sachs chairman and chief executive. Mr Blankfein revealed last year that he had what he described as a "highly curable" form of lymphoma.