Goldman Sachs Group said on Monday that George Mattson, a co-head of the firm's global industrials group, will retire after an 18-year career at the investment bank.

Mattson will be succeeded in that role by Dusty Philip, who was named co-head of mergers and acquisitions in the Americas last year, Goldman announced in a series of internal memos reviewed by Reuters. A Goldman Sachs spokesman confirmed the content of the memos but declined further comment.

In one of the memos, Goldman also announced that Clare Scherrer will become chief operating officer of the global industrials group. In addition to her new role, Scherrer will remain head of the industrials group in Europe, the Middle East and Africa, a role she has held since 2011.

Mattson, who joined Goldman Sachs in 1994, has run the firm's global industrials group along with Alex Dibelius, the other co-head of the group.

(Reporting by Soyoung Kim; Editing by Phil Berlowitz)