Dean Backer has been made head of Goldman Sachs prime-brokerage sales and capital introduction for hedge fund clients, according to the Wall Street Journal.
Backer started his career as a consultant for Anderson Consulting but has been with Goldman Sachs for 19 years. He joined the firm in 1990 and worked in the Controllers office and Goldman Sachs Trust in the Cayman Islands before becoming a vice president in 1995, when he joined Global Securities Services in New York. He became a partner in 2002, and was recently U.S. equity-sales co-head.
Backer was also recently inducted into the Global Custodian Securities Services Hall of Fame.
More changes could be made within the Goldman Sachs prime brokerage department after Paul Germain, the U.S. prime brokerage co-head, quit the bank in October to head the worldwide sales of prime-brokerage products at Credit Suisse.