These are the leading candidates to be the next president of Goldman as the bank shakes up its ranks

  • Now that Solomon is officially taking over as CEO, the next big appointment will be at the president level.
  • Leading contenders include executives from investment banking, investment management, the retail bank and the firm's chief financial officer.

Goldman Sachs President David Solomon's promotion to chief executive officer in October sets off a cascade of vacancies, none more important than for his current position.

Solomon, 56, will likely announce his successor — or a pair of them as co-presidents — in September before taking the reins from Lloyd Blankfein, according to people with knowledge of the situation.

Here are the leading candidates:

John Waldron, 49:

Waldron, a star dealmaker who came from Bear Stearns like Solomon, has been given a series of high-profile roles within the investment bank, culminating with his being named co-head of the advisory division in 2014. He joined Goldman in 2000 and has been co-head of the media and entertainment group and a practice catering to private equity firms.

Source: Goldman Sachs

Marty Chavez, 54:

Chavez, who is currently chief financial officer, has had a varied career. He co-founded a pair of technology start-ups and had trading roles at Goldman Sachs and Credit Suisse before returning to the New York-based bank in 2005. He served as chief information officer for three years until 2017, when he became CFO.

Martin Chavez, Goldman Sachs 
Amanda Gordon | Bloomberg | Getty Images
Martin Chavez, Goldman Sachs 

Stephen Scherr, 54:

Scherr, who heads the consumer and commercial banking division, has oversight of the firm's push into online retail banking products under the Marcus brand. He joined Goldman in 1993 as an associate in the investment bank, eventually rising to be global head of the firm's financing group in 2008. He served as chief strategy officer from 2014 to 2017.

Stephen Scherr, chief strategy officer and head of GS Bank USA at Goldman Sachs & Co.
Jon Halty | Bloomberg | Getty Images
Stephen Scherr, chief strategy officer and head of GS Bank USA at Goldman Sachs & Co.

Eric Lane, 44:

Lane is co-head of the firm's investment management division, which manages money for wealthy clients and creates investment products. He joined Goldman in 1996 and became one of the youngest employees to make partner in 2002.

Eric Lane, Goldman Sachs
Source: Goldman Sachs
Eric Lane, Goldman Sachs