NEW YORK, Feb 28 (Reuters) – Goldman Sachs Group Inc’s (GS.N) Chief Government David Solomon and prime executives will give buyers an replace on their technique on Tuesday.
Listed here are biographies of key leaders who will communicate on the second investor day within the Wall Avenue agency’s 154-year historical past. The speaker biographies are primarily based on firm paperwork, statements and Reuters sources.
DAVID SOLOMON, CEO, 61
Solomon has run the Wall Avenue powerhouse since October 2018. He succeeded Lloyd Blankfein, who steered the agency by means of the 2008 monetary disaster and its aftermath.
Buyers will assess Solomon’s plan to broaden earnings development past buying and selling and dealmaking after the corporate misplaced billions on its foray into shopper banking.
Goldman is pursuing a method that was first outlined to buyers in 2020 to strengthen its core companies and add to their market share.
“We did not get all the things proper,” Solomon not too long ago advised buyers at a convention. “We did not execute completely on all the things, however we made lots of progress.”
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Solomon, who DJs in his spare time, joined Goldman as a associate in 1999 from Bear Stearns. The CEO climbed the ranks in funding banking, in distinction along with his predecessor, who rose by means of buying and selling.
JOHN WALDRON, PRESIDENT AND CHIEF OPERATING OFFICER, 53
John Waldron has been president and chief working officer since October 2018. Whereas the manager is seen as Solomon’s closest lieutenant, market contributors additionally view Waldron as a possible candidate for the highest job when it comes up.
Waldron oversees the heads of the financial institution’s three predominant divisions. He beforehand served as co-head of funding banking, a job he assumed in 2014 after becoming a member of Goldman in 2000.
Solomon and Waldron had been among the many executives whose pay was lower by thousands and thousands in 2020 after a graft scandal at Malaysian state fund 1MDB prompted the financial institution to pay a file $2.9 billion within the U.S. to settle investigations.
Solomon in a press release on the time stated not one of the previous or present members of senior administration had been concerned in, or conscious of, the agency’s participation in any illicit exercise when Goldman organized the Malaysian bond offers.
However the firm’s board nonetheless lowered compensation for some senior executives in gentle of the findings of the federal government and regulatory investigations, in addition to the magnitude of the entire 1MDB settlement.
DAN DEES, CO-HEAD OF GLOBAL BANKING & MARKETS, 52
Dan Dees is the co-head of Goldman’s world banking and markets division. He relocated to San Francisco in early 2014 to turn into world co-head of the financial institution’s know-how, media and telecommunications group.
In 2012, the manager was named co-head of funding banking for the Asia-Pacific area, excluding Japan. His tenure there coincided with the 1MDB bond gross sales.
Dees joined Goldman in 1992 in New York and labored on its preliminary public providing from 1998 to 1999. He grew to become a associate in 2004.
MARC NACHMANN, GLOBAL HEAD OF ASSET AND WEALTH MANAGEMENT, 51
Marc Nachmann heads the asset and wealth administration unit, which oversees about $2.5 trillion in property. He assumed the function in October after Goldman reorganized into three main models.
Nachmann, who hails from Germany, beforehand served as co-head of markets and co-head of funding banking. He grew to become a associate in 2004 after becoming a member of in 1994.
The chief has appointed new leaders after Mike Koester, co-president of options, and Sam Finkelstein, world head and chief funding officer of mounted revenue, stated they might retire.
STEPHANIE COHEN, GLOBAL HEAD OF PLATFORM SOLUTIONS, 45
Stephanie Cohen is one the financial institution’s highest-ranking feminine executives, heading its newly-formed Platform Options unit. She beforehand served as a co-head of the buyer and wealth administration division.
Cohen was previously chief technique officer, dealing with mergers, acquistions and partnerships. She was instrumental in Goldman’s $1 billion pledge to spend money on firms and cash managers with various management.
After becoming a member of as an analyst in 1999, Cohen grew to become a associate in 2014.
DENIS COLEMAN, CHIEF FINANCIAL OFFICER, 49
Denis Coleman was promoted to finance chief final 12 months after serving as co-head of the worldwide financing group.
The chief grew to become a associate in 2008 and has labored throughout capital markets, funding banking and leveraged finance. Coleman joined Goldman Sachs in 1996 as an analyst.
JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, 51
Julian Salisbury is chief funding officer of Goldman’s asset and wealth administration unit. He was beforehand world co-head of Goldman Sachs Asset Administration.
Salisbury, who’s British, has labored for the financial institution in London and Moscow. He joined Goldman Sachs in 1998, doing stints in analysis and product management. He grew to become a associate in 2008.
CAREY HALIO, CHIEF STRATEGY OFFICER AND HEAD OF INVESTOR RELATIONS
Carey Halio is world head of investor relations. She has additionally served because the CEO of Goldman Sachs Financial institution USA and the corporate’s deputy treasurer.
Halio began at Goldman in 1999 as a summer time affiliate. She was promoted to associate in 2016.
KIM POSNETT, CO-HEAD OF ONE GOLDMAN SACHS, 45
Kim Posnett is co-head of One Goldman Sachs, the corporate’s program to unify its strategy to purchasers throughout divisions. She can be world head of funding banking companies.
Posnett grew to become a associate in 2016 after becoming a member of as an affiliate in 2005.
Reporting by Saeed Azhar; Enhancing by Lananh Nguyen and Sonali Paul
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