In this case, both decisions are weighty enough that they should be made at the very top, by the same people.
What is the Investment Bank version of "flogging round the fleet"?
Uh yes, the head of ECM should know how GS is using his largest clients' products to the degree legally permissible.
One of the ways boutiques pitch themselves against the bulge brackets is by emphasizing that they won't generate these sorts of headlines.