Appointment of Drummond Rice to Lead Financial Institutions Coverage in Americas ECM
Goldman Sachs Group Inc. (NYSE:GS) announced the appointment of Drummond Rice to head its financial institutions coverage within the equity capital markets (ECM) franchise across the Americas. Rice joins Goldman Sachs from Blackstone Inc. (NYSE:BX), where he has been employed since 2021. He will succeed Erich Bluhm, who retired after more than 18 years of service at Goldman Sachs.
Rice’s transition to Goldman Sachs will be finalized after the completion of the initial public offering (IPO) process for Jersey Mike’s Subs Inc., a sandwich chain backed by Blackstone that filed for an IPO earlier this month.
The announcement was reported by Bloomberg News and published on Investing.com on 10‑07‑2026 at 06:06 pm, authored by Louis Juricic under the Stock Market category. The article notes that Goldman Sachs shares rose 2.56% (GS+2.56%) and Blackstone shares rose 2.98% (BX+2.98%) following the news. The content was generated with AI assistance and reviewed by an editor, as indicated in the article’s disclaimer. No additional compliance obligations or timelines beyond the IPO completion were disclosed.