Business News

Goldman Sachs shuffles senior management as Cohn joins Trump team: WSJ

Goldman Sachs will promote David Solomon and Harvey Schwartz to the No. 2 executive spot, the Wall Street Journal (WSJ) reported late on Tuesday.

Solomon, presently co-head of the investment banking department, and Schwartz, the current chief financial officer, will be replacing Gary Cohn, second in command to CEO Lloyd Blankfein, the WSJ said, citing unnamed sources.

Gary Cohn, Goldman Sachs president and COO at the 2016 World Economic Forum in Davos.
David A. Grogan | CNBC

Cohn is leaving Goldman to become U.S. president-elect Donald Trump's chief economic adviser.

Meanwhile, Goldman's technology chief R. Martin Chavez could be promoted to finance chief, the WSJ said.

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