Senior changes at Goldman Sachs
14 September 2018 New York
Image: Shutterstock
The Goldman Sachs Group has made a number of senior level changes.
John Waldron will become the firm’s president and COO, effective from 1 October.
Waldron joined Goldman Sachs in 2000 and has been responsible for sustaining and enhancing Goldman Sach’s global position in underwriting and mergers and acquisitions since being named co-head of the investment banking division (IBD) in 2014.
Waldron previously served as global head of investment banking services/client coverage for IBD. Before that, he was London-based global co-head of the financial sponsors group from 2007 to 2009.
Stephen Scherr has been appointed CFO, effective from 5 November after the filing of Goldman Sach’s third-quarter results.
Scherr has served as CEO of Goldman Sachs Bank USA since 2016 and is also head of its consumer and commercial banking division.
He joined Goldman Sachs in 1993 as an associate in the financial institutions group.
Martin Chavez will become vice chairman of the firm and co-head of the securities division with Ashok Varadhan and Jim Esposito.
Chavez, CFO since 2017 first joined Goldman Sachs in 1993 in the J Aron currency and commodities division.
The senior changes follow current CEO Lloyd Blankfein’s decision to step down which was announced in July. He will be replaced by David Solomon after 12 years in the role.
Solomon, said: “John Waldron and Stephen Scherr will work closely with me to develop and execute our strategy, grow our client franchise, ensure strong risk and capital management and safeguard our unique culture.”
“I have worked with Waldron and Scherr for nearly two decades and am confident that they bring the right complement of skills to help lead the firm through their respective roles.”
“Chavez’s unique experience as CIO and CFO will be critical to helping lead securities and ensuring that we are best positioned to serve our clients, develop market-leading electronic platforms and deploy our capital effectively.”
John Waldron will become the firm’s president and COO, effective from 1 October.
Waldron joined Goldman Sachs in 2000 and has been responsible for sustaining and enhancing Goldman Sach’s global position in underwriting and mergers and acquisitions since being named co-head of the investment banking division (IBD) in 2014.
Waldron previously served as global head of investment banking services/client coverage for IBD. Before that, he was London-based global co-head of the financial sponsors group from 2007 to 2009.
Stephen Scherr has been appointed CFO, effective from 5 November after the filing of Goldman Sach’s third-quarter results.
Scherr has served as CEO of Goldman Sachs Bank USA since 2016 and is also head of its consumer and commercial banking division.
He joined Goldman Sachs in 1993 as an associate in the financial institutions group.
Martin Chavez will become vice chairman of the firm and co-head of the securities division with Ashok Varadhan and Jim Esposito.
Chavez, CFO since 2017 first joined Goldman Sachs in 1993 in the J Aron currency and commodities division.
The senior changes follow current CEO Lloyd Blankfein’s decision to step down which was announced in July. He will be replaced by David Solomon after 12 years in the role.
Solomon, said: “John Waldron and Stephen Scherr will work closely with me to develop and execute our strategy, grow our client franchise, ensure strong risk and capital management and safeguard our unique culture.”
“I have worked with Waldron and Scherr for nearly two decades and am confident that they bring the right complement of skills to help lead the firm through their respective roles.”
“Chavez’s unique experience as CIO and CFO will be critical to helping lead securities and ensuring that we are best positioned to serve our clients, develop market-leading electronic platforms and deploy our capital effectively.”
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