Goldman Sachs has appointed several star executives to lead its biggest Wall Street business lines, marking a significant shift in the firm’s leadership structure. The promotions aim to tap into the next generation of talent and address concerns over retention.
The bank has named new global leaders for its equities, fixed-income, and banking units. Erdit Hoxha, Cyril Goddeeris, and Dmitri Potishko will oversee equities, while Kunal Shah, Anshul Sehgal, and Jason Brauth are set to run fixed income. Kim Posnett, Matt McClure, and Anthony Gutman will lead banking.
Shah and Gutman have been appointed co-chief executive officers of Goldman Sachs International, in addition to their new roles. Richard Gnodde, who is stepping down from running the international business, has become vice chairman of Goldman Sachs.
The promotions are part of a broader effort to retain top talent amidst changes in the firm’s leadership structure. The bank has recently handed out an $80 million retention bonus to Chief Executive Officer David Solomon and President John Waldron until at least 2030.
However, the lack of gender representation in senior roles remains a concern. While three new management committee members are women, they now account for only 23% of the total membership, down from 25%.
The promotions also reflect the bank’s ongoing efforts to hold onto talent and address its talent retention challenges. The changes mark the most significant elevation of Goldman Sachs’ future leadership outside of Solomon’s core team in recent years.
Source: https://finance.yahoo.com/news/goldman-picks-leaders-run-wall-131507655.html