People Moves

Goldman Sachs Unveils New Managerial Line-Up

Robbie Lawther Assistant Editor 14 September 2018

Goldman Sachs Unveils New Managerial Line-Up

These changes come weeks after the firm named David Solomon as its new CEO.

US banking giant Goldman Sachs has appointed John Waldron as president and chief operating officer, with effect from October 1. The firm has also appointed Stephen Scherr as chief financial officer, who joins on November 5, and Martin Chavez as vice chairman of the firm and co-head of the securities division.

These latest appointments come weeks after this publication reported that Goldman Sachs had named David Solomon as its new chief executive, taking the helm from Lloyd Blankfein who will step down after a 12-year stint that saw him run the Wall Street firm during the worst financial crisis since the Great Depression.

Waldron was co-head of the investment banking division (IBD) in 2014. He previously served as global head of investment banking services/client coverage for IBD. Scherr has served as CEO of Goldman Sachs Bank USA since 2016 and is also head of the consumer and commercial banking division. He joined Goldman Sachs in 1993.

Chavez has served as CFO since 2017. Prior to assuming his current role, Chavez was chief information officer. He was became a partner in 2006.

“John and Stephen 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,” said Solomon. “I have worked with John and Stephen for nearly two decades and am confident that they bring the right complement of skills to help lead the firm through their respective roles. Marty’s unique experience as chief information officer and chief financial officer 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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