Dec 13 Goldman Sachs Group Inc is
expected to elevate David Solomon and Harvey Schwartz to be top
lieutenants to Chief Executive Lloyd Blankfein, according to a
Wall Street Journal report on Tuesday citing people familiar
with the matter.
The hire, expected to be announced as early as Wednesday,
comes after U.S. President-elect Donald Trump said he would
appoint Goldman Sachs President and Chief Operating Officer Gary
Cohn to head the White House National Economic Council, a group
that coordinates economic policy across agencies.
Reuters earlier reported that Cohn's role as Goldman's
president was likely to be split. Chief Financial Officer Harvey
Schwartz and investment banking co-head David Solomon were
likely candidates, according to people familiar with the matter.
Such a move could return Goldman to a co-president, co-chief
operating officer structure. Cohn had earlier served alongside
Jon Winkelried in this arrangement, until Winkelried's departure
from the firm in 2009.
The Wall Street investment bank is also likely to name
technology chief R. Martin Chavez as CFO, Schwartz's current
job, the Journal said. Solomon co-heads Goldman's
investment-banking division. on.wsj.com/2gJhyQs
Schwartz, who joined Goldman in 1997 and has been CFO for
three years, is known as a capable and cautious risk-manager.
Like Cohn, he is a veteran of the company's trading floor.
Solomon, meanwhile, is a Bear Stearns veteran who joined
Goldman in 1999. He climbed the management ladder quickly, a
rarity at a bank that typically promotes employees at a slow
pace. Soon after Blankfein became CEO, Solomon assumed his
current role, where he helps to run Goldman's mergers and
Goldman Sachs spokesman Michael DuVally declined to comment
on the expected appointments.
(Reporting by Aurindom Mukherjee in Bengaluru; Editing by Sunil