Goldman Sachs said Tim Romer plans to retire as head of its West Region in 2019, leaving his post in the firm's public sector and infrastructure banking group to Ritu Kalra.
Romer is set to hand off his responsibilities to Kalra early in the new year, a spokesman said. She will relocate to San Francisco and will handle dual roles, remaining the head of the higher education group.
“Ritu joins an extremely talented group of bankers on the west coast, and we look forward to the continued success of the team,” said Jeff Scruggs, co-head of Public Sector and Infrastructure banking at Goldman Sachs.
Romer has been leading the west region for the past 15 years for Goldman and has been in the municipal and infrastructure industry for more than 30 years.
Kalra has been head of the Goldman higher-ed group since 2014 and is well seasoned when it comes to municipal infrastructure and public power banking as well as derivatives, the spokesman said.
Goldman ranks seventh among muni underwriters year-to-date, with $13.26 billion of sales.
