Goldman Sachs appoints adviser to lead personal money management

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A longtime executive from Goldman Sachs Private Wealth Management has been selected by the company to help lead the personal financial management unit, formerly known as United Capital.

David Fox (pictured), who led the South West region of Goldman’s UNHW-focused private wealth management division, will become head of advisors in a newly created role within the personal financial management unit of Goldman.

Personal Financial Management was created when Goldman Sachs renamed Joe Duran’s $25 billion RIA United Capital after buying it in 2019. It focuses on clients with portfolios of $1 million to $10 million. The company’s Form ADV says it currently oversees approximately $17 billion in total assets for its clients, but a Goldman Sachs representative said the unit’s actual amount of assets under advisement is significantly higher in because of how Goldman Sachs reports assets internally. The company declined to give an exact figure for the Personal Financial Management group’s AAU.

Fox will report to Larry Restieri, co-director of Duran and Personal Financial Management, and will continue to work in Dallas.

Since joining Goldman Sachs in 1999, Fox has held various positions, including as a private wealth management advisor in Philadelphia and head of the Southeast region in Atlanta. He also directed the national training programs for new advisers in Private Wealth Management. He was appointed Managing Director in 2007 and Partner in 2016.

Prior to beginning his career at Goldman Sachs, Fox was a world-class competitive swimmer and Olympic medalist, having won gold as part of the USA 4×100 meter freestyle relay team at the 1996 Olympics in Atlanta. .

Editor’s Note: Title has been changed to better reflect David Fox’s new role.

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