Goldman Sachs appoints Eugene McCague as Irish regional adviser

McCague expected to be ‘eyes and ears’ in market here for the global banking giant

Eugene McCague retired from Arthur Cox in 2017 having worked with the leading Irish law firm for almost 30 years. Photograph: Dara MacDónaill

Eugene McCague retired from Arthur Cox in 2017 having worked with the leading Irish law firm for almost 30 years. Photograph: Dara MacDónaill

 

Former Arthur Cox managing partner and chairman Eugene McCague has been appointed by global investment bank Goldman Sachs as a regional adviser for the Irish market.

It is understood that Mr McCague took up the part-time advisory role this week. He is expected to be the “eyes and ears” in the Irish market for the global banking giant, according to one source.

Goldman Sachs’ investment banking arm was previously represented here by former Irish rugby international Hugo MacNeill, who stepped down from the role in February 2020 after 31 years with the firm.

Mr McCague retired from Arthur Cox in 2017 having worked with the leading Irish law firm for almost 30 years, including four years as managing partner and seven as chairman. He was also a partner with rival firm McCann Fitzgerald.

During his career, Mr McCague advised a wide range of public and private companies on mainstream corporate work, mergers and acquisitions, business restructurings and corporate governance.

Among his high-profile roles was the examinership of the Goodman Group, a restructuring of Team Aer Lingus, and advising the Department of Finance on the night of the bank guarantee in 2008.

He conducted a review last year for the non-executive directors of the Beacon Hospital following controversy around the vaccination of 20 teachers from St Gerard’s in Bray.

The experienced lawyer is also a non-executive director of public company Icon, is on the Irish board of global insurer Aon and is chairman of the board of employers’ group Ibec.

In addition, Mr McCague is chairman of the Alzheimer Society of Ireland and previously spent seven years on the board of the Health Services Executive.

Mr McCague could not be reached for comment.

Goldman Sachs has a number of Irish registered entities here and an office in Dublin. The US banking group established a base here post Brexit for certain fund management activities.

Latest accounts for Goldman Sachs Asset Management Fund Services Ltd, which was incorporated in 2018 and operates across the European Union, shows that it made a pre-tax profit of $5.6 million (€4.9 million) on turnover of $780 million in 2020. Its assets under management averaged $210 million during the year.