Goldman Sachs Announces Leadership Shakeup, Promoting Star Executives
Goldman Sachs Group Inc. is elevating a group of high-performing executives to lead its core Wall Street business lines, signaling the firm's transition to its next generation of leaders.
According to sources, the bank has appointed new global heads for its equities, fixed-income, and banking divisions. The management committee has also been significantly expanded.
Erdit Hoxha, Cyril Goddeeris, and Dmitri Potishko will lead equities; Kunal Shah, Anshul Sehgal, and Jason Brauth will run fixed income; and Kim Posnett, Matt McClure, and Anthony Gutman will helm banking.
Shah and Gutman will also serve as co-chief executive officers of Goldman Sachs International. Richard Gnodde, currently head of international business, will transition to the role of vice chairman.
These promotions represent the culmination of an extended period of planning at Goldman Sachs to identify and empower the firm's future leaders. The division-head roles being filled are new to the bank's structure and will give these executives greater autonomy.
Sam Morgan and Kevin Kelly will manage client coverage for the firm's trading business. Francois-Xavier de Mallmann, chairman of investment banking, will become chairman of Goldman Sachs EMEA and join the management committee.
Other key appointments to the management committee include Will Bousquette (asset and wealth business chief operating officer), Kathleen Connolly (global director of internal audit), and Marie Louise Kirk (Asia-Pacific chief administrative officer).
The overall size of the management committee has increased by 50% to a total of 15 members.
In a separate move, the bank is appointing John Storey and Tony Pasquariello as co-heads of its One Goldman Sachs initiative, which aims to enhance collaboration.
These leadership changes underscore the bank's efforts to retain talent and position itself for future success.