Michael Sherwood (banker)

For the American musician, see Michael Sherwood.

Michael Sherwood
BornJuly 1965 (age 55)
EducationWestminster School
Alma materUniversity of Manchester
OccupationBanker
Net worth GBP £195 million (May, 2019)
Spouse(s)Melanie Sherwood
Children2

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.[13]

References
  1. Braithwaite, Tom; Alloway, Tracy (7 November 2013). "Goldman repositions Sherwood in reshuffle". Financial Times. Retrieved 26 February 2016.
  2. Times, The Sunday (12 May 2019). "Rich List 2019: profiles 602-650, featuring Sting and Sir Rod Stewart". ISSN 0140-0460. Retrieved 8 July 2019.
  3. Mathiason, Nick (6 April 2008). "Winner in the battle of the bulges". The Guardian. Retrieved 26 February 2016.
  4. Nisse, Jason (19 December 1993). "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". The Independent. Retrieved 26 February 2016.
  5. "Profile: Michael Sherwood – the UK's golden Goldman boy". The Daily Telegraph. 19 November 2010. Retrieved 26 February 2016.
  6. "Michael Sherwood, Vice Chairman". Goldman Sachs. Retrieved 26 February 2016.
  7. Treanor, Jill (21 November 2016). "Michael Sherwood quits Goldman Sachs role". The Guardian. Retrieved 28 July 2017.
  8. "Board of Directors: Michael Sherwood". Rothesay Life. Retrieved 26 February 2016.
  9. Rushton, Katherine (19 January 2013). "Goldman Sachs top City banker Michael Sherwood receives $15.8m share bonus". The Daily Telegraph. Retrieved 26 February 2016.
  10. "Michael S. Sherwood". Bloomberg Business. Retrieved 26 February 2016.
  11. "Sunday Times Rich List". The Sunday Times (page 72). 26 April 2015.
  12. "Uncertainty of Brexit would be bad for business, say leading figures". The Jewish Chronicle. 25 February 2016. Retrieved 26 February 2016.
  13. Kelly, Liam. "Former Goldman Sachs boss Michael Sherwood lined up for City return at fintech unicorn Revolut". www.thetimes.co.uk. Retrieved 8 July 2019.
  14. "Trustees". Greenhouse Sports. Retrieved 26 February 2016.
  15. "Our supporters". Jewish Museum London. Retrieved 26 February 2016.
  16. Krieger, Candice (15 March 2012). "Striving to rediscover hunger will make successful start-ups". The Jewish Chronicle. Retrieved 26 February 2016.
  17. https://www.thejc.com/lifestyle/features/striving-to-rediscover-hunger-will-make-successful-start-ups-1.32310
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