Michael Goosay, who had been head of global pensions and multi-sector fixed-income portfolio management at Goldman Sachs Asset Management, has left to join Principal Asset Management.
At Principal Goosay will be a managing director of global fixed income and portfolio manager. Principal manages $135.7 billion in fixed-income strategies.
“Michael’s experience, leadership, and creativity will further bolster our already strong global fixed income capabilities,” said Kamal Bhatia, global head of investments at Principal, in a statement. “We look forward to his leadership and overall contribution in helping best serve our clients worldwide.”
Goldman Sachs has suffered a number of senior and mid-level management departures in recent months. Just over a week ago, Julian Salisbury, the chief investment officer of the asset and wealth management division, left to join Sixth Street, which has $65 billion in assets. Salisbury's new role at Sixth Street is co-CIO alongside Alan Waxman, CEO, and Joshua Easterly, co-president. Institutional Investor also previously reported that Samuel Finkelstein stepped down as the global head and CIO of fixed income and liquidity solutions in February. Since then, Greg Calnon and Ashish Shah were named his replacements.
At Principal, Goosay will oversee the firm’s short-term income, core, core plus, and US-global multi-sector fixed income portfolios.
“I look forward to building upon the firm’s robust fixed income capabilities to advance client investment objectives by tailoring the right strategies to achieve them,” Goosay said in a statement.
Goosay spent the past 14 years at GSAM, where, in addition to his day-to-day role as head of global pensions, he also served as a member of the firm’s fixed income business development committee and its macroeconomic outlook team.
Before joining GSAM, Goosay held leadership positions at Drake Management, JPMorgan Chase, Prudential Financial, and GE Asset Management.
