Goldman names 2 COOs to replace Gary Cohn
new york » Goldman Sachs named two executives to share the chief operating officer role, replacing Gary Cohn, who is leaving the investment bank to join President-elect Donald Trump’s economic policy team.
Harvey Schwartz and David Solomon will become co-chief operating officers on Jan. 1, the New York company said Wednesday. Schwartz also will keep his current role as chief financial officer until the end of April and then will be replaced by R. Martin Chavez. Solomon is currently the co-head of Goldman’s investment banking division. Both Schwartz and Solomon also will be presidents of the bank.
Trump tapped Cohn as assistant to the president for economic policy and national economic council director, where he will help the administration design its economic agenda. Cohn has worked at Goldman for more than 25 years.
Goldman also named two new vice chairmen, who will get the new roles at the start of next year. They are Richard Gnodde, who is co-CEO of Goldman’s international unit and co-head of its investment banking division, and Pablo Salame, the global co-head of its securities division.
Shares of Goldman Sachs Group Inc. rose 19 cents to $238.74 in midday trading Wednesday.