Saturday, September 23, 2017

Goldman Names 2 Chief Operating Officers to Replace Cohn



By on December 14, 2016

NEW YORK - DECEMBER 16:  The Goldman Sachs headquarters building is seen December 16, 2008 in New York.  The storied financial firm on December 16 posted its first loss since going public in 1999.  (Photo by Chris Hondros/Getty Images)

The Goldman Sachs headquarters building is seen in New York (Photo by Chris Hondros/Getty Images)

NEW YORK – Goldman Sachs named two executives to share the chief operating officer role, replacing Gary Cohn, who is leaving the investment bank to join President-elect Donald Trump’s economic policy team.

Harvey Schwartz and David Solomon and will become co-chief operating officers on Jan. 1, the New York company said Wednesday. Schwartz will also keep his current role as chief financial officer until the end of April and then will be replaced by R. Martin Chavez. Solomon is currently the co-head of Goldman’s investment banking division.

Both Schwartz and Solomon will also be presidents of the bank.

This week, Trump tapped Cohn as assistant to the president for economic policy and national economic council director, where he will help the administration design its economic agenda. Cohn has worked at Goldman for more than 25 years.

Goldman also named two new vice chairmen, who will get the new roles at the start of next year. They are Richard Gnodde, who is co-CEO of Goldman’s international unit and co-head of its investment banking division, and Pablo Salame, the global co-head of its securities division.

Shares of Goldman Sachs Group Inc. fell 71 cents to $237.83 in morning trading Wednesday.

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