Goldman Sachs Group, Inc. (GS.US) plans to merge its investment banking operations in the Asia-Pacific region to create a unified department.

An internal memo shows that Goldman Sachs plans to merge its teams in Japan, Australia, and New Zealand, as well as other Asian regions excluding Japan, to create a unified regional investment banking business. The consolidated Asia Pacific investment banking department will be led by Iain Drayton, a spokesperson confirmed the authenticity of the memo. "This structure will enable more comprehensive client engagement, more efficient mobilization of global and regional expertise, and provide more career development opportunities for our employees," the memo stated. Iain Drayton currently heads Goldman Sachs' Asia (excluding Japan) investment banking business. In his new role, Iain Drayton will work closely with Yoshihiko Yano and Shogo Matsuzawa, Co-Heads of Investment Banking in Japan, as well as Nick Sims and Zac Fletcher, Co-Heads of Corporate Advisory in Australia and New Zealand. According to data compiled by Dealogic, Goldman Sachs topped the Asia Pacific equity capital markets league table this year with 32 deals totaling $9.8 billion, capturing a 12% market share. Competitors J.P. Morgan and Morgan Stanley closely followed.