Michael Sherwood (banker) explained

Michael Sherwood
Education:Westminster School
Alma Mater:University of Manchester
Occupation:Banker
Spouse:Melanie Sherwood
Children:2

Michael Sherwood, also known as Woody,[1] (born 1965) is a British banker. He served as the vice-chairman of Goldman Sachs and the co-chief executive officer of Goldman Sachs International until November 2016.

According to the Sunday Times Rich List in 2019, Sherwood is worth £195 million, a £10 million decrease from 2018.[2]

Early life

Michael Sherwood was born in July 1965 in London.[3] His father was "the owner of a chemical company" and his mother was an academic.[4] He grew up in Highgate, North London.[3]

Sherwood was educated at Westminster School.[5] He graduated from the University of Manchester, where he received a bachelor's degree in economics.[4] [5]

Career

Sherwood started his career at Goldman Sachs in 1986.[4] [5] He served as the co-chief executive officer of Goldman Sachs International from 2005 to November 2016.[6] Additionally, he served as the vice-chairman of Goldman Sachs from 2008 to November 2016.[6] He was succeeded in these two roles by Richard Gnodde.[7]

Sherwood acquired Smythson for GBP£16 million in 2005 and sold it for GBP£18 million in 2009.[5] He invested GBP£400,000 in Tottenham Hotspur F.C., a football club in Tottenham, London, in 2009.[5] He formerly served on the board of directors of Watford F.C., a football club in Watford near London.[5] Sherwood serves as a non-executive director of Rothesay Life, a life insurance company.[8]

Sherwood received a bonus of $15.8 million in shares in 2013, which was more than CEO Lloyd Blankfein's bonus.[9] He earned US$21 million in 2014.[10] By April 2015, he had an estimated wealth of GBP£185 million.[11]

Sherwood is opposed to Brexit.[12]

In July 2019, it was reported in The Times that Sherwood will be made non-executive director of fintech unicorn Revolut.[13]

Philanthropy

Sherwood serves as the chairman of the Development Committee at his alma mater, the Westminster School.[14] He has donated to the Harefield Academy.[14] He serves on the board of trustees of Greenhouse Sports, a non-profit organisation which encourages children to play sports.[14] With his wife, Sherwood has made charitable contributions to the Jewish Museum London via their Melanie and Michael Sherwood Foundation.[15]

Personal life

Sherwood is married to Melanie.[5] They reside near Regent's Park in central London with their two children.[5] Sherwood is Jewish.[12] [16] [17]

Sherwood is a close confidant of retail tycoon Sir Philip Green and informally advised him on the sale of British Home Stores for £1 to Dominic Chappell in 2015.

Notes and References

  1. News: Braithwaite. Tom. Alloway. Tracy. Goldman repositions Sherwood in reshuffle. 26 February 2016. Financial Times. 7 November 2013.
  2. News: Rich List 2019: profiles 602-650, featuring Sting and Sir Rod Stewart. Times. The Sunday. The Times. 2019-05-12. 2019-07-08. en. 0140-0460.
  3. News: Mathiason. Nick. Winner in the battle of the bulges. 26 February 2016. The Guardian. 6 April 2008.
  4. News: Nisse. Jason. Profile: How Fat Mike became a million dollar baby: The huge bonuses handed to partners by Goldman Sachs have left the City gasping. Jason Nisse looks at a young beneficiary: Michael Sherwood. https://ghostarchive.org/archive/20220514/https://www.independent.co.uk/news/business/profile-how-fat-mike-became-a-million-dollar-baby-the-huge-bonuses-handed-to-partners-by-goldman-1468530.html . 14 May 2022 . subscription . live. 26 February 2016. The Independent. 19 December 1993.
  5. News: Profile: Michael Sherwood – the UK's golden Goldman boy. 26 February 2016. The Daily Telegraph. 19 November 2010.
  6. Web site: Michael Sherwood, Vice Chairman. Goldman Sachs. 26 February 2016.
  7. News: Treanor. Jill. Michael Sherwood quits Goldman Sachs role. 28 July 2017. The Guardian. 21 November 2016.
  8. Web site: Board of Directors: Michael Sherwood. Rothesay Life. 26 February 2016.
  9. News: Rushton. Katherine. Goldman Sachs top City banker Michael Sherwood receives $15.8m share bonus. 26 February 2016. The Daily Telegraph. 19 January 2013.
  10. Web site: Michael S. Sherwood. Bloomberg Business. 26 February 2016.
  11. News: Sunday Times Rich List. The Sunday Times. 72. 26 April 2015.
  12. News: Uncertainty of Brexit would be bad for business, say leading figures. 26 February 2016. The Jewish Chronicle. 25 February 2016.
  13. News: Former Goldman Sachs boss Michael Sherwood lined up for City return at fintech unicorn Revolut. Kelly. Liam. www.thetimes.co.uk. en. 2019-07-08.
  14. Web site: Trustees. Greenhouse Sports. 26 February 2016.
  15. Web site: Our supporters. Jewish Museum London. 26 February 2016.
  16. News: Krieger. Candice. Striving to rediscover hunger will make successful start-ups. 26 February 2016. The Jewish Chronicle. 15 March 2012.
  17. Web site: Striving to rediscover hunger will make successful start-ups - The Jewish Chronicle. dead. https://web.archive.org/web/20180127203337/https://www.thejc.com/lifestyle/features/striving-to-rediscover-hunger-will-make-successful-start-ups-1.32310. 2018-01-27.