In This Article:
(Bloomberg) -- Goldman Sachs Group Inc. is promoting a slate of star executives to run its biggest Wall Street business lines, spotlighting the firm’s next generation of leadership.
Most Read from Bloomberg
-
Texas HOA Charged With Discrimination for Banning Section 8 Renters
-
How Sanctuary Cities Are Preparing for Another Showdown With Trump
-
Deadly Landslide of Garbage Displays Uganda's Missed Opportunity
The bank, which just reported a surge in profit, is tapping new global leaders for its equities, fixed-income and banking units, according to a statement Tuesday, which confirmed an earlier Bloomberg News report. It also named new co-heads of the international unit and dramatically expanded the management committee.
Erdit Hoxha, Cyril Goddeeris and Dmitri Potishko will oversee equities; Kunal Shah, Anshul Sehgal and Jason Brauth are set to run fixed income; and Kim Posnett, Matt McClure and Anthony Gutman will lead banking.
Shah and Gutman are becoming co-chief executive officers of Goldman Sachs International in addition to their new roles. Richard Gnodde, 64, will step down from running the international business, and is becoming vice chairman of Goldman Sachs.
The male-heavy promotions cap more than a year of deliberation inside Goldman over how to designate the firm’s next generation of leaders, giving the roster more influence in shaping the development of operations. The division-head roles being filled are not part of the bank’s current structure, with managers reporting to executives who oversee the broader banking and markets segment.
Altogether, the changes amount to the most significant elevation of Goldman’s future leadership outside of Chief Executive Officer David Solomon’s core team in recent years.
In addition to the new equities, fixed income and banking heads, Sam Morgan and Kevin Kelly will run client coverage for the firm’s trading business.
Francois-Xavier de Mallmann, chairman of investment banking, will become chairman of Goldman Sachs EMEA. He will join the management committee along with the new division heads, in addition to Will Bousquette, chief operating officer of the asset and wealth business, Kathleen Connolly, the bank’s global director of internal audit, and Marie Louise Kirk, chief administrative officer for Asia-Pacific.
The changes add 15 people to Goldman’s management committee. That, along with two other promotions announced last week, means the group will have 41 people when it next meets.