Doug Grip, co-head of investment management in Asia at Goldman Sachs, is transferring to London to become head of private wealth management international, meaning he will take over the private bank business for Europe and Asia.

A partner since 2000, Grip arrived in Hong Kong in January from New York where he had served as president of the mutual funds group for five years. He and Tokyo-based Stephen Fitzgerald co-headed the newly formed investment management division (IMD), conceived to strip private wealth management from the equities business and couple it with fund management, as Goldman had already been doing in Europe and the US.

The new Asia IMD co-head (along with Fitzgerald) is Gary Giglio, a managing director who is currently the regional manager of the Seattle office, which he opened for the firm in 2001. He has worked at Goldman since joining in Houston in 1994. He will focus mainly on the private wealth management business in Hong Kong, Tokyo and Singapore.

Grip is replacing Emmanuel Gavadin in London, who is leaving the firm. Meanwhile John Haase will assume Giglio's role as the Seattle regional manager.