Alvaro del Castagno. Credit: Linkedin
Goldman Sachs Group has announced that Álvaro del Castaño, co-head of Spain and Portugal and head of private wealth management, will retire after more than 30 years at the bank.
Del Castaño’s resignation followed reports that he had written political opinion pieces criticizing both Donald Trump and Pedro Sanchez, Reuters reported. An article published in The Objective under his name was reportedly removed earlier this year after Bloomberg News contacted Goldman Sachs.
A Goldman Sachs spokesperson said, “Mr. Alvaro has decided to retire from Goldman Sachs after a distinguished career of more than 30 years with the firm. We look forward to continuing to work with him on issues that benefit our clients.”
Alvaro del Castaño’s 30-year career in Iberia and Latin America
Del Castagno joined Goldman Sachs in 1993 as an associate in the equity derivatives department, then moved to investment banking and then asset management. Throughout his career, he oversaw business development in the Iberian Peninsula and Latin America, becoming Managing Director in 2002.
According to Spanish newspaper Invertia, Del Castaño plans to launch a new personal finance project after he retires.
According to reports, the executive criticized the government’s leadership in the book, particularly regarding Spain’s economic policy. Although Goldman Sachs stressed that his column did not reflect the company’s views, the timing of its removal has drawn attention in Spain’s financial community.
Del Castaño’s departure brings to an end the longest-serving career as a banker in Spain’s financial sector and could have implications for private wealth management in the Iberian market.
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