Earlier, Leissner had worked with Lehman Brothers and JPMorgan. A friend of the rich and powerful loses his Wall Street perch. The banks 6.5 billion deals with 1MDB made money and trouble. He has previously held the position of head of investment banking in Singapore and his move back to Singapore is widely seen as a natural succession in a region he is very familiar with. The Rise and Fall of Tim Leissner, Goldmans Big Man in Malaysia. Leissner joined Goldman Sachs in the M&A group in 1998. Leissner will be co-president with Oral Dawe. 1 Leissner helped orchestrate the 1Malaysia Development Berhad scandal, one of the biggest financial scandals in history, in which billions of dollars were stolen. Ong will be replaced by Tim Leissner who has led investment banking services in Asia ex-Japan since 2005. Tim Leissner (born October 31, 1971) is a German-born investment banker and a former managing director at Goldman Sachs and chairman of the bank's Southeast Asia division. Prior to that he worked with Chase Manhattan Bank, Prudential Bache Securities and Citigroup. Ong will step into WickerÆs shoes as both CEO of Goldman Sachs Gaohua and co-head of the investment banking division in Asia ex-Japan (with Mark Machin). He became a partner in 2000, which makes him one of the longest-serving partners in the region. Tim Leissner, the former chief of Goldman’s Southeast Asia operation, is a star witness in the criminal trial of Roger Ng, the bank’s former head of investment banking in Malaysia. Ong has been co-president, Goldman Sachs, Singapore since 2004. It is speculated that Stevens was aware that he would not be offered WickerÆs job and chose to resign rather then continue as COO. Naturally, the two changes coming within hours of each other suggest they are inter-related. This was followed by an announcement from the firm that CEO, Bill Wicker, would be relinquishing his China responsibilities and returning to New York to assume a role in the natural resources group. Ex-Goldman Sachs exec Tim Leissner, the estranged husband of model and Baby Phat designer Kimora Lee Simmons, pleaded guilty to his role in a purported 4.5B heist against the sovereign fund of. In the latest in a series of announcements relating to its China joint venture, Goldman Sachs Gaohua, the firm announced that Richard Ong will be moving to the JV and Tim Leissner will move to Singapore to assume OngÆs current position.Īs we reported on Tuesday, Joe Stevens, COO of the JV unexpectedly departed Goldman Sachs Gaohua for a sponsorÆs role at Standard Chartered. For about five years, two Goldman Sachs Malaysia executives, Tim Leissner and Ng Chong Hwa (Roger Ng), conspired to provide corrupt payments to foreign.
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