Goldman Sachs hired a Barclays financial technology banking MD in Chicago

Goldman Sachs has historically liked to grow its managing directors in-house. But where homegrown talent is not available, it will hire externally. It has just hired Ben Froehlich, a Barclays lifer. 

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Froehlich just joined Goldman in Chicago as a managing director in the specific niche of financial technology investment banking. He didn't respond to a request to comment for this article; nor did Goldman. FINRA says he's still technically at Barclays. 

Froehlich joined Barclays as a summer intern in 2011 and made MD at the bank in 2022. He was initially in leveraged finance but moved into financial technology in 2021. 

Financial technology bankers are like a combination of financial institutions group (FIG) bankers and tech bankers. At Barclays, Joel Fleck, the co-head of FIG banking also has responsibility for financial technology. At Goldman Sachs, Marine Epailly, an MD of financial technology in London (also hired from Barclays eight years ago) has a background in TMT banking at Rothschild.

Jeff Gido, a veteran fintech banker, runs Goldman Sachs' financial technology group globally. In April, Gido was also appointed co-chair of Goldman's FIG group. Kelly Galanis, a Goldman Sachs lifer and partner, runs the fintech group for the firm in the US.  

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