Goldman Sachs poached a Credit Suisse FIG MD in New York City

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Goldman Sachs is strenghtening its Financial Institutions Group (FIG) in New York.

It recently hired Steve Milovanovic, a New York-based financial institutions group managing director (MD) at Credit Suisse.

Milovanovic's recruitment comes after Goldman hired Scott Smith,  an MD-level financial sponsors banker from Piper Jaffray.

Milovanovic spent over nine years at Credit Suisse, where he became MD in 2017. He first joined the bank as an associate in 2007 but left two years later for Morgan Stanley. Within a year, he was back at Credit Suisse as a vice president and stayed for over a decade.

Goldman Sachs declined to comment. The bank has been shoring up its M&A expertise since CEO David Solomon indicated in February that it would be going after mid-market deals and expanding its coverage organically “by adding bankers.”

Dealogic says Goldman ranked first for U.S. M&A deals in the first quarter, with a 15% market share. 

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