The U.S. bank has hired former McKinsey head Kevin Sneader to co-run its business in Asia without Japan, the firm announced in a statement released overnight. Sneader will relocate to Hong Kong from New York later this year and work with Todd Leland.

Goldman Sachs still bears bruises in the region following its involvement in the 1MDB corruption scandal which led to a multi-billion dollar fine paid to international authorities last year.

String Of Scandals 

Sneader’s tenure at McKinsey is marked by the consultancy firm’s embroilment in a string of corruption cases, ranging from its active role in the U.S. opioid epidemic as well as a corruption case in South Africa.

«Kevin’s international and Asia experience, and his deep relationships with global and Asian clients in multiple industries will contribute significantly as we execute our strategy,» Goldman's CEO David Solomon said in a statement.