• Read the memos Goldman Sachs sent out to employees announcing the big management overhaul

    2 monthes ago - By Business Insider

    Goldman Sachs announced a big shakeup to its leadership team Thursday as incoming CEO David Solomon moved to put his management team in place before taking over from Lloyd Blankfein.
    Goldman named John Waldron, one of three co-heads of the investment banking division, to president and chief operating officer, and effectively Solomon's No. 2. Waldron's new role will become effective Oct. 1.
    Stephen Scherr, the head of the consumer and commercial banking division, will become chief financial officer, as CFO Marty Chavez shifts to become one of three co-heads of the securities division.
    Here...
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  • After a major shakeup, here's the new top leadership at Goldman Sachs - and it signals the rise of bankers over traders

    After a major shakeup, here's the new top leadership at Goldman Sachs - and it signals the rise of bankers over traders

    2 monthes ago - By Business Insider

    Goldman Sachs announced a big shakeup on Thursday as incoming CEO David Solomon cements his new leadership team before taking over for Lloyd Blankfein in October.
    The changes represent the rise of investment bankers over traders, who dominated the top ranks under Blankfein and have jockeyed back and forth with the bankers for power during much of the firm's history. But since the aftermath of the financial crisis, revenue derived from providing clients with advice on mergers and capital raising have proven to be more stable than trading.
    Solomon and his deputies have a number of challenges...
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