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Goldman Sachs Appoints New Chief Strategy Officer
Mark Shapland
5 June 2014
He will replace Andrew Chisholm who retires after 30 years service at the bank. Since 2008, Scherr has been global head of the financing group and in his new role he will help coordinate Goldman’s lending business and keep his position as head of Latin America.
“Stephen will work across the firm to develop and drive important growth initiatives as part of the firm’s global strategy,” Goldman Sachs said in a statement.
For the remainder of the year Chisholm will continue to co-chair the Commitments Committee and after that become an advisory director.
The chief strategy officer calls into the firm's chief executive Lloyd Blankfein.
As reported earlier this week, the US firm is planning to boost the size of its wealth management and commercial banking divisions and this publication understands that a story about this development is accurate. Scherr's promotion is part of this move.