Goldman Sachs man named as new President of Sycamore Partners
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Sycamore Partners, the private equity firm that acquired Pure Fishing from Newell Brands in November last year, has appointed Rob Sweeney to the newly-created role of President.
Sweeney joins the New York business from Goldman Sachs, where he was Global Head of Consumer and Retail Investment Banking.
A statement announcing the appointment said Sweeney ‘will build upon Sycamore Partners’ deep network of relationships with CEOs, Board members and management teams of public and private consumer and retail companies.’
Sweeney, a former submarine office in the US Navy, spent 22 years at Goldman Sachs, where he advised clients including Campbell’s, Dollar General, Under Armour, Yum! Brands, Best Buy, Applegate Farms, IT Cosmetics, Best Buy and J. Crew.
Under his leadership, Goldman’s consumer and retail group ranked number one in several global league tables last year.
“We look forward to Rob’s immediate contributions as the firm pursues its mission of partnering with management teams to improve the operating profitability and strategic value of their businesses,” said Stefan Kaluzny, Managing Director of Sycamore Partners.
The hiring of Sweeney follows the appointment earlier this year of Pure Fishing CEO Harlan Kent, who also has a strong track record in retail.
Sycamore is one of the few private equity firms willing to make aggressive bets on the retail sector as the rest of Wall Street shuns investments in tradition bricks and mortar, reports Reuters. The firm has approximately $10 billion in assets under management.