Goldman Sachs Announces New Executive Team

Goldman Sachs has named its new senior executive team as David Solomon prepares to become chief executive at the end of the month. John Waldron, who currently heads up the investment banking division at Goldman Sachs, will take over Solomon’s former role as chief operating officer and president as of October 1. He has been with the company since 2000, and has held various senior positions including global head of investment banking services and client coverage and global co-head of financial sponsors group. Marty Chavez will also step down as chief financial officer as part of the reshuffle, to become co-head of the bank’s trading business alongside Jim Esposito. Stephen Scherr, who currently serves as the chief executive officer of Goldman Sachs Bank USA, will assume the role of financial chief as of November 5. The appointment of a new leadership team comes ahead of Goldman Sachs’ long-standing CEO’s retirement. Lloyd Blankfein is due to retire on October 1 this year.