Goldman fires transaction banking chief.

Philip Berlinski, the bank's treasurer, will take over day-to-day management of transaction banking alongside Akila Raman and Luc Teboul. Berlinski is also leading Goldman's financial technology and consumer business on an interim basis. Hari Moorthy, the head of transaction banking, was among the people who departed, the person said.

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Bloomberg News Some of unit’s executives communicated on unapproved channels Firm is looking to relatively young unit to help boost revenue Goldman Sachs Group Inc. fired transaction banking executives including the head of the business, Hari Moorthy, over compliance lapses, a person with direct knowledge of the matter said.

Goldman Sachs has fired several executives of its transaction banking business over compliance failure, according to a memo seen Wednesday by Reuters and Bloomberg. Four employees, including Hari Moorthy, the head of transaction banking, were among the people let go following a violation of the firm’s communication policy, the publications ...

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The fired executives also failed to cooperate with Goldman Sachs' compliance department. The bank remains strongly committed to the transaction banking business, it said. US regulators have so far ...

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