Goldman Sachs Promotes Execs to Run Key Businesses
Amidst a surge in profits, Goldman Sachs Group Inc. is elevating a group of executives to lead its core Wall Street operations, shaping the firm's future leadership.
Sources indicate that Goldman is appointing new global heads for its equities, fixed-income, and banking units, as well as new co-heads for its international operations and expanding its management committee.
Erdit Hoxha, Cyril Goddeeris, and Dmitri Potishko will lead equities; Kunal Shah, Anshul Sehgal, and Jason Brauth will manage fixed income; while Kim Posnett, Matt McClure, and Anthony Gutman will head banking.
Shah and Gutman will additionally serve as co-CEOs of Goldman Sachs International. Richard Gnodde will transition from his role leading the international business to Vice Chairman.
These promotions reflect over a year of deliberations to identify and empower Goldman's next generation of leaders. The newly created division-head roles allow these executives to influence the strategic direction of the firm.
Along with the division heads, Sam Morgan and Kevin Kelly will lead client coverage for the trading business, while Francois-Xavier de Mallmann becomes Chairman of Goldman Sachs EMEA.
Goldman's management committee will expand by over 50%, with 15 new members joining. This move aims to retain top talent amidst competition for executives from high-profile firms and alternative asset managers.
The bank's One Goldman Sachs initiative, designed to enhance collaboration, will also undergo leadership changes with the appointment of co-heads John Storey and Tony Pasquariello, alongside Meena Flynn.
These organizational updates underscore Goldman's commitment to transforming its leadership structure and preparing for the future of the firm.