Goldman, Sachs & Co. has hired four senior bankers from the recently shuttered public finance group at UBS Securities LLC, including former head of municipal banking Jeff Scruggs, who has come aboard as a managing director and will run the public sector banking group with Sue Benz and Tim Romer, the company announced.
In addition, Mark Florian, managing director and head of Goldman's infrastructure banking, has departed, the firm said. Florian is heading to First Reserve Corp., a private equity firm that specializes in the energy industry, according to market sources. He will be replaced by managing directors Greg Carey and John Ma. Managing director Tim Vincent will also be a senior member of the group.