NEW YORK, Dec 6 (IFR) - Goldman Sachs named Laurence Stein chief administrative officer effective January 1 succeeding Jeffrey Schroeder, who is retiring from the bank after nearly 30 years, the last 10 as chief administrative officer.
Stein will assume responsibility for Goldman’s critical infrastructure and processes, including leading business planning as the bank plots its post “Brexit” European footprint.
Stein was named global head of the operations division in 2015. He was chief operating officer of the securities division from 2009 to 2015. He joined Goldman in 1996 in the finance division, and was named partner in 2006.
The bank tapped Phil Armstrong to become global head of the operations division. (Reporting by Philip Scipio; editing by Shankar Ramakrishnan)