David Solomon and Harvey Schwartz have been named Goldman Sachs new Co Presidents and Co-Chief Operating Officers. They replace Gary Cohn who will head to Washington to serve as Donald Trump’s director of the National Economic Council.
After attacking his opponents like Hillary Clinton and Ted Cruz for their close ties to Wall Street firms like Goldman, and promising to do things differently in Washington, Donald Trump has followed in the foot steps of his predecessors and appointed people from Goldman Sachs to senior positions in his administration.
Solomon and Schwartz have been loyal lieutenants to Goldman Sachs head Lloyd Blankfein.
Goldman Sachs also named R. Martin Chavez Deputy Chief Financial Officer. Richard J. Gnodde and Pablo J. Salame were named Vice Chairmen of the firm, effective January 1, 2017.
“These five leaders have distinguished themselves in their respective areas of expertise and I look forward to working with them in formulating and executing our global strategy, ” said Lloyd C. Blankfein, Chairman and Chief Executive Officer of Goldman Sachs. “They have consistently demonstrated their unwavering commitment to Goldman Sachs, our clients and our people.”
David Solomon is Co-Head of the Investment Banking Division. Prior to assuming this role in 2006, he was the Global Head of the Financing Group, which includes all capital markets and derivative products for the firm’s corporate clients. He is a member of the firm’s Management Committee and co-chairs the Investment Banking Division Executive Committee. He joined Goldman Sachs as a Partner in 1999.
Harvey Schwartz is Chief Financial Officer. Prior to assuming this role in 2013, Mr. Schwartz was Global Co-Head of the Securities Division since 2008. From 2007 to early 2008, he was Global Head of Securities Division Sales, from 2005 to 2007 he was Head of North America Sales and from 2004 to late 2005 he was Co-Head of the Americas Financing Group within Investment Banking. Mr. Schwartz is a member of the Management Committee, Firmwide Risk Committee, Steering Committee on Regulatory Reform, Finance Committee and Firmwide Investment Policy Committee. He was named Managing Director in 1999 and Partner in 2002.