Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS +1.53% has named Luke Sarsfield as global co-head of the bank's $2.47 trillion asset-management unit, according to an internal memo provided to MarketWatch. Julian Salisbury had been sole head of the unit since March after Eric Lane left the bank and joined Tiger Global Management. Sarsfield will also join Goldman's management committee. Goldman Sachs CEO David Solomon said Sarsfield "will complement Julian's expertise leading broad-based teams across all alternatives asset classes, as well as his leadership to date in helping us join our efforts across alternative and traditional public markets asset management," according to the memo. The asset management unit includes Goldman's merchant banking and asset management businesses for institutional clients. It houses the bank's sizeable private equity business and is one of four major units at the firm including investment banking, trading, and consumer banking. The move by the bank was initially reported by Bloomberg and Reuters. Goldman Sachs shares are down 10% so far in 2022, compared to a 7.5% drop by the S&P 500.