Goldman Sachs Group Inc. promoted Barry O'Brien to co-COO of its global technology, telecom and media investment banking team, Reuters reported, citing a memo.

Prior to the promotion, O'Brien served as co-head of the bank's technology, telecom and media investment banking M&A team.

O'Brien, who joined the company in 2000, replaces Kim Posnett. Posnett was named co-head of global investment banking services unit.