The former chairman and CEO of United Technologies Corp. has resurfaced with a new gig at New York investment banking giant Goldman Sachs.
Louis R. Chênevert, 58, who retired from UTC unexpectedly in November, will be an exclusive advisor to Goldman Sachs’ merchant banking division, where he will seek investment and finance opportunities in the aerospace and industrial sectors, Goldman Sachs announced Tuesday afternoon.
Goldman Sachs’ merchant banking division invests in corporate and real estate equity and debt, as well as infrastructure. It has raised more than $140 billion in capital over the past 30 years.
“We have a long history of investments in the aerospace and industrials sectors,” Richard A. Friedman, head of the merchant banking, said in a statement. “We are pleased to have Louis bring his deep knowledge, unique experience and track record of creating shareholder value to enhance our investing efforts.”
Since Chênevert’s departure, UTC’s new CEO Gregory J. Hayes has made major changes at the company, which manufactures aerospace engines, elevators, security systems and other products.
UTC agreed in July to sell helicopter subsidiary Sikorsky to Lockheed Martin for $9 billion.
The company also recently moved its corporate office from Hartford to Farmington, after announcing in March that it wanted to save more than $100 million in office expenses.
