: Goldman hires Wells Fargo executive as head of transactional banking

Goldman Sachs Group Inc. GS is hiring former Wells Fargo & Co. WFC executive Paul Camp as partner and head of transaction banking at the firm, according to an internal memo seen by MarketWatch. Camp most recently worked as head of global Treasury management at Wells Fargo. He has more than 25 years of transaction banking and payment experience including chief executive of Treasury services at Bank of New York Mellon Corp. BK. “Paul’s appointment underscores the firm’s commitment to growing our transaction banking business,” Philip Berlinski, global treasurer of Goldman Sachs, said in the memo. Transaction banking includes liquidity management, virtual accounts, payments, escrow services and banking-as-a-service. Goldman Sachs’s stock was up by 0.3% on Monday afternoon.

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