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Goldman Sachs’ head of UK private equity departs  

Dow Jones Industrial Average Drops 2 Percent, Over 200 Points

Richard Butland, Goldman Sachs’ head of private equity activities in the UK, has left the bank after 14 years.

Butland is as close as it comes to being a Goldman Sachs ‘lifer’, having started at the bank as an associate in 2000. He left earlier this month, according to sources close to the situation, but his next move is not yet known.

Officially, Butland’s title was managing director within Goldman’s merchant banking division, but he also had responsibility for heading up its private equity functions in the UK as well as natural resources across Europe. Before this, he was head of UK M&A advisory at the bank, a position he was promoted to in 2007, having been bumped up to managing director the year before.

He has held investor director positions on a number of large UK companies in the past including baby food firm Ella’s Kitchen and Pret A Manger. Currently, he holds the same position at oil and gas firm Expro and personal hygiene company Ontex.

Before joining Goldman Sachs, Butland spent five years at PricewaterhouseCoopers and two years at IBJ Schroders Bank. He has a batchelor’s degree from Victoria University of Wellington and is a qualified accountant, gaining his stripes in 1995.

Separately, Steve Purdy, a managing director in global credit within Goldman’s securities division has also left. He joined private equity firm TPG Capital earlier this month, according to filings on the Financial Conduct Authority. Purdy was promoted to managing director in 2011, a year when just 261 people gained the title – the smallest figure since the financial crisis of 2008.

Goldman Sachs declined to comment on either move.

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