Gold­man names 2 COOs to re­place Gary Cohn

The Denver Post - - BUSINESS -

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.

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