(Bloomberg) -- Ricardo Mora, who helped run Goldman Sachs Group Inc.’s business in Latin America, is leaving the bank, according to people with knowledge of the matter.

Mora, who has worked in emerging markets for more than 30 years, is departing to pursue another opportunity, one of the people said, asking not to be identified because the information isn’t public. The bank has sought to build out its Latin America business, where it has averaged about $1 billion in revenue in recent years.

The unit in the past has been led by prominent executives such as former Chief Financial Officer Stephen Scherr. Mora bagged the role after the departure of his predecessor, Ram Sundaram, and had worked on structured deals in the region, including financing Mexican toll roads, which proved to be especially lucrative for Goldman. 

“He was top-shelf, one of the very best people I ever worked with,” Sundaram said. “Consummate professional, team player and producer.”

Mora, 58, joined Goldman Sachs as a managing director in 2008 and was named partner in 2010. Born in California to Mexican parents, he made his first business trip to the region in 1992 and has been involved since the early days of the growth of Latin American capital markets.

Mora and a spokesperson for New York-based Goldman didn’t immediately respond to requests for comment. The bank’s Latin America business this year will bring in less than $1 billion after setbacks on a couple of transactions, one of the people said.

The bank tapped Osmin Rivera to replace Mora, the person said. He’ll run the business alongside John Greenwood, who was named to the role earlier this year.

Mora previously also held a senior role as co-head of fixed income, currencies and commodities sales in the Americas. Before joining Goldman, he was a managing director at Deutsche Bank AG, where he held senior roles in emerging-markets sales, trading and syndicate from 1995 to 2008. His first finance job was in 1991 at Manufacturers Hanover Corp.

Read More: Goldman Trader Paid $100 Million Since 2020 Is Stepping Down 

--With assistance from Cristiane Lucchesi and Peter Eichenbaum.

(Updates with new leaders of the business in seventh paragraph.)

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