Goldman Sachs has launched a sweeping reorganisation of its analysts and associates in Europe, doing away with country-based and sector-based teams and creating two super groups focusing on northern and southern Europe.

The northern unit will be run by Mark Sorrell, partner and co-head of UK investment banking, and Michiel Lap, head of Goldman Sachs' Nordic and Netherlands investment banking business. The southern unit will be run by Clare Scherrer, head of Goldman Sachs' global industrials group in Emea, and Francesco Pascuzzi, co-head of investment banking in Italy.