Goldman Sachs Appoints Stefan Duffner to Lead Activism Defense in EMEA
Goldman Sachs has appointed Stefan Duffner to spearhead its activism defense and shareholder advisory practice in Europe, the Middle East, and Africa (EMEA). Duffner, who has been with the investment bank since 2005, will assume the role of Head of Activism and Shareholder Advisory (ASA) in EMEA.
This move comes amidst a growing demand for defensive strategies from corporations facing pressure from activist investors. Duffner will bring his expertise in mergers and acquisitions (M&A) and consumer retail to the ASA team.
Goldman Sachs has maintained its position as the industry's leading financial adviser in activism defense. In 2023, the bank ranked first with 49 engagements, outperforming JP Morgan's 37 engagements.
Camila Rodriguez Bedoya will join Duffner's team while maintaining her M&A role within the Financial Institutions Group in EMEA. Anne Bizien, who previously headed the European activism group, will shift her focus to the bank's broader client franchise in France.
Activism defense has become a critical service for financial institutions. Banks of all sizes are expanding their teams to provide guidance to clients facing activist threats.
The number of activist shareholders surged in 2024, with 45 newcomers employing the strategy for the first time. Companies are anticipating an increase in activism campaigns this year.