Michael Sherwood denies BHS forced him to quit Goldman Sachs

Michael Sherwood, who announced his shock departure from Goldman Sachs last night, today denied that his departure was related to the bank’s controversial involvement with Sir Philip Green’s sale of BHS and declared himself a good friend of the retail billionaire.

“I like Philip, he is a friend,” the banking veteran told the Evening Standard, adding: “I don’t think Goldman Sachs want to do business with him but to me he is one of those people who give you energy, although he’s taken a lot of energy away from me recently!”

He criticised the Select Committee which made much of Goldman’s advice to Green, recommending Dominic Chappell as a buyer of BHS.

“Philip Green asked me to sell the business and I said ‘no’... The whole thing was a storm in a teacup but the select committee wanted to drag us in to use Goldman’s name.”

Repeating his view that BHS was a “blip” in his career, he denied it had anything to do with his reason for quitting. “I’ve been chief executive of Europe for 14 years, you tell me how many other chief executives stay that long?”

Sherwood, the highest-ranking Brit at a Wall Street bank, had been tipped by some as a potential successor to the bank’s chairman and chief executive Lloyd Blankfein, but he said: “He isn’t leaving so it never became an issue.” He said Blankfein had been trying to persuade him to stay as recently as Sunday night. “It’s best to leave when people want you to stay. The firm is in good shape, it’s indestructible.”

Having not had more than 10 consecutive days off since he started at Goldman aged 20, the 51-year-old Westminster-educated banker said: “I’m taking a break for three to six months to refresh. I’m going to try to get a little bit healthier.” He added there were other personal reasons for his departure.