Michael G. Rantz, a partner at Goldman, Sachs & Co., has been promoted to co-head of liquid capital markets.
Rantz, who managed municipal underwriting, sales, and trading, will oversee the firm's goveRNment and agency securities divisions. Liquid capital markets also encompasses corporate bonds and preferred stock issues.
Three officials will split Rantz's former responsibilities in the municipal department.
Richard E. Kolman, vice president and manager of underwriting, Jack Kleinert, vice president and manager of trading, and Elliot Alchek, vice president and manager of sales, will be co-heads of municipal marketing, Rantz said.
Kolman, Kleinert, and Alchek will report to David C. Clapp, Goldman's partner in charge of the municipal bond department. The three previously reported to Rantz.
Rantz replaces Paul Jacobson, a partner who retired last November.
"Mike was the best candidate, but we hate to lose him," Clapp said in an interview Friday. "We're lucky, though, that we're very deep. We can reach back and put in strong people."
