Goldman Sachs Group said it has named Pete Lyon as co-head of its business that caters to private equity and hedge fund clients in the Americas.

Lyon, who first joined the bank as an analyst in 1990, will lead Goldman's financial sponsors group in the Americas with co-head Alison Mass, according to an internal memo obtained by Reuters.

Lyon's promotion follows news that Milton Berlinski, a veteran banker and partner at Goldman, will be retiring as global head of the financial sponsors group this year.

Lyon has been working in debt capital markets since joining Goldman and has been managing relationships with private equity clients in the financial sponsors group since 2000.

He spent two years in Dubai leading the Mena division before relocating to New York in 2010 to lead client coverage strategy.-Reuters