Goldman Sachs has appointed William Connolly and Michael Voris as co-heads of equity capital markets (ECM) in the Americas, according to a memo viewed by Reuters on Wednesday. This move aligns with increasing competition among Wall Street firms to secure more business in their ECM divisions through high-profile initial public offerings as the stock market continues its recovery momentum from last year.

Goldman Sachs notably excels in equity capital markets—a sector of investment banking focusing on transitioning shares from private to public ownership as a means of securing new funding for expanding enterprises.

Connolly, who has been with the firm since 2005, leads the Technology ECM sector, offering counsel on equity-related matters within technology, media, and telecommunications.

Meanwhile, Voris serves as the global head of convertible bond financing, overseeing alternative capital solutions and equity derivatives in the Americas.

Additionally, Goldman Sachs has appointed Elizabeth Reed as the chief operating officer for ECM on a global scale, a newly established position in conjunction with her existing role as the global head of the equity syndicate desk.