Goldman Sachs Asset Management is moving its European co-head, Suzanne Donohoe, back to the US as part of a global management reshuffle.

Stephen Fitzgerald, head of Goldman Sachs Asset Management in Asia, will replace Donohoe in Europe and will become the head of Goldman Sachs Asset Management International, overseeing Asia and Europe. He joins Ted Sotir, who remains co-head of the business in Europe.