Mr. Carr is currently co-head of mergers and acquisitions for the Americas, a position he has held just for the past nine months. His latest position reflects a rapid rise in an organization Mr. Carr joined just two years ago, and shows an increased willingness by Goldman, a former partnership, to name outsiders to increasingly senior posts.

Mr. Carr, 42 years old, will move to Hong Kong, where Goldman's non-Japan Asian operations are based. Within Goldman, Mr. Carr is well-regarded for his managerial skills and his experience in negotiating mergers. A specialist in advising industrial companies, Mr. Carr joined Goldman Sachs as a managing director in 1998 from Salomon Smith Barney, where he was co-head of global mergers.

At Goldman, Mr. Carr has worked on some significant transactions, including BP Amoco PLC's purchase of Atlantic Richfield Co. and Boeing Co.'s acquisition of satellite-making operations from General Motors Corp.'s Hughes Electronics Corp. unit.

"Michael's appointment underlines the importance of the Asian market to Goldman Sachs, and the opportunities we see on the horizon," said Henry M. Paulson Jr., chairman and chief executive officer of Goldman Sachs. Mr. Paulson added that the promotion highlights the importance the firm places on having senior officers such as Mr. Carr "assume responsibility outside their home markets." The other co-head of Americas mergers, David Baum, 35, will take over sole responsibility for that merger department. Mr. Carr succeeds Timothy Dattels, 42, who will lead Goldman's Menlo Park, Calif., office and focus on technology investment banking. Goldman's Japanese business will continue to be headed by Mark Schwartz.

-- (Reuters)