Bloomberg reported Goldman Sachs Group has merged its structured- and leveraged-finance groups in the Americas as Craig Packer is departing after a decade at the firm.

Bloomberg said, citing an internal memo, Christina Minnis and Vivek Bantwal will oversee a new credit finance group in the Americas, which will combine the existing leveraged- and structured-finance businesses.

Bloomberg noted that Goldman Sachs’s fourth-quarter debt underwriting revenue fell 21% from the previous quarter, in part driven by a weaker environment for leveraged finance.