Updates of Goldman Sachs Group
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Goldman Sachs has appointed Denis Coleman as chief financial officer, giving David Solomon a new lieutenant for three years in office.
Coleman, 47, is due to take over from Stephen Scherr as CFO on January 1, and is currently serving as deputy to the CFO. Coleman is leading a Goldman financial group that advises bank customers on basic needs.
“Its stability in corporate markets and risk management gives him the opportunity to be successful as we seek to increase our power over our customers and provide opportunities for those with whom we share,” said Solomon.
Scherr, 57, is a 28-year-old former Goldman soldier who was appointed CFO in 2018. It was his decision to leave the bank and he has the opportunity to hold a position in other companies, according to someone who knows his departure.
“Stephen helped to develop the necessary strategies for the company, including buyers and sellers,” said Solomon.
Coleman said he was “humbled” by the election and wanted to help “establish and rehabilitate our system, ensure that any risks are addressed financially, and protect our culture”.
Beth Hammack, Goldman’s global treasurer, has taken over from Coleman as co-founder of the group.
Goldman is in the midst of pushing for diversification from unstable institutions such as banking and investment banking, and moving to more stable businesses such as asset management and consumer banks.