Goldman Senior Distressed-Debt Investor Tormey Departing Bank

Tom Tormey, a senior Goldman Sachs Group Inc. partner who helmed special-situation and rescue-financing deals wagering the firm’s own money, is leaving the firm, according to people with knowledge of the matter.

Tormey helped lead a collection of businesses including structured-credit trading that often reaped big profits and had one of its best years in 2020 from the market tumult spurred by the Covid-19 pandemic. The 50-year-old had been with Goldman Sachs since 2008.

His departure comes at a time of shifting strategy at the firm that is upending the old ways of doing business for Goldman’s risk-takers and ...