Goldman Sachs promotes several executives to reinforce Wall Street dominance

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  • Jan 21, 2025

(Reuters) - Goldman Sachs is tapping several executives to lead its prized Wall Street businesses, it said on Tuesday, as part of a management reshuffle less than a week after reporting its biggest quarterly profit in more than three years.

The move comes at a time the investment bank is preparing for a flurry of dealmaking in 2025 on the back of a resilient economy and prospects of business-friendly policies under the Trump administration.

"This group of leaders represents the very best of our culture of excellence, client service and teamwork," said Goldman CEO David Solomon, who last week was given an $80 million stock bonus to stay at the helm for another five years.

The bank named Matt McClure, Anthony Gutman and Kim Posnett its global co-heads of investment banking.

Jason Brauth, Kunal Shah and Anshul Sehgal will become global co-heads of fixed income, currency and commodities, while Dmitri Potishko, Cyril Goddeeris and Erdit Hoxha will become global co-heads of equities.

All the new appointees will join the bank's management committee.

Goldman has sharpened its focus on its Wall Street businesses over the past few years after an ill-fated foray into consumer banking led to billions in losses.

Analysts expect 2025 to be another strong year for the company and its Wall Street peers. Solomon has previously said dealmaking in equities and mergers and acquisitions could exceed 10-year averages this year.

Here is an overview of the new executives taking the helm:

Unit Designation Executives

Investment Global Matt McClure, Anthony

Banking Co-heads Gutman and Kim Posnett

Investment Chair Suhail Sikhtian and

Banking Marshall Smith

Fixed Income, Global Jason Brauth, Kunal

Currency and Co-heads Shah and Anshul Sehgal

Commodities

Equities Global Dmitri Potishko, Cyril

Co-heads Goddeeris and Erdit

Hoxha

Global Banking Global Kevin Kelly and Sam

& Markets – Co-heads of Morgan

Public Client

Coverage

Goldman Sachs Co-CEOs Anthony Gutman and

International Kunal Shah

Goldman Sachs Chair Francois-Xavier de

EMEA Mallmann, in addition

to current role as

investment banking

chair

One Goldman Co-heads John Storey and Tony

Sachs Pasquariello, in

addition to Meena

Flynn

To maintain Will Bousquette,

respective Kathleen Connolly and

roles and Marie Louise Kirk

join

management

committee

Vice Chair Richard Gnodde and

Jack Sebastian;

Sebastian to retain

his existing roles