A veteran Wall Street dealmaker is retiring from Goldman Sachs

A veteran Wall Street dealmaker is bowing out.

Goldman Sachs' head of cross-border mergers and acquisitions, James Del Favero, is retiring from the firm after nearly three decades.

Del Favero joined Goldman Sachs' mergers-and-acquisitions team in New York in 1989, according an internal memo seen by Business Insider.

He spent time at the firm's London and Sydney offices before returning to New York and being named managing director in 1999 and parnter in 2004.

"James has been instrumental in shaping and defining the firm's M&A franchise, particularly in developing our cross-border business, formalizing our fairness process and enhancing M&A training," read the memo, which was signed by investment banking coheads Richard Gnodde, David Solomon, and John Waldron.

"He has been a trusted advisor to many clients across industries and regions and has played a central role in many innovative and complex transactions."

Bloomberg's Ed Hammond first reported the departure.

Del Favero has worked on transactions including British American Tobacco's deal with RJ Reynolds Tobacco and General Electric's deal with the Chinese multinational Haier, according to