Freshly promoted Goldman Sachs MD jumps ship to work in Citi's wealth division

The tragic irony of managing director promotions in banks is that some people will work for decades to achieve the title only to leave very soon after. It happens every year, and one of the first to leave Goldman Sachs following its 2025 MD promotions has opted to switch to Citi.

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Hank Gerkens announced via LinkedIn yesterday that he's joining Citi in Dallas as it's global head of securities based lending within Citi Wealth. Gerkens was promoted to managing director at Goldman Sachs in 2025. The promotion was the culmination of a 10 year career at Goldman in Dallas where he was US and Latin America head of securities based lending for Goldman's private bank. Now he's left. 

Gerkens isn't a Goldman lifer. He joined the bank after eight years in a finance role at Microsoft and also worked at Wells Fargo and JPMorgan. He spent six years at the latter, joining as a graduate in its investment bank.

At Citi, Gerkens will be working under Anne McCosker, Citi Wealth's global head of lending. She's a new-ish face, having also joined from Goldman Sachs a year ago. The bank has faced complaints for its treatment of senior women in its wealth division, and has lost some senior people like Ida Liu who left for HSBC late last year.

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