Goldman Sachs shakes up top executive team

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Goldman Sachs shakes up top executive team

Goldman Sachs has named David Solomon, co-head of the Investment Banking Division, and Harvey Schwartz, chief financial officer, presidents and co-chief operating officers to replace Gary Cohn, who is leaving to head the US National Economic Council.

In addition, Martin Chavez, chief information officer, has been named deputy chief financial officer, and will replace Schwartz in April.

Richard Gnodde and Pablo Salame were named vice chairmen of the firm, effective 1 January 2017.

They will continue in their current respective roles as co-chief executive officer of Goldman Sachs International and co-head of the Investment Banking Division, and global co-head of the Securities Division, respectively.

“These five leaders have distinguished themselves in their respective areas of expertise and I look forward to working with them in formulating and executing our global strategy,” said Lloyd Blankfein, chairman and chief executive officer of Goldman Sachs.

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