Goldman Sachs confirms appointment of Schwartz and Solomon as co-COOs

Goldman Sachs shuffles leadership team amid COO Cohn’s departure.

Goldman Sachs has confirmed David Solomon and Harvey Schwartz have been appointed as co-chief operating officers, following Gary Cohn’s departure to join Donald Trump’s administration.

Martin Chavez - current chief information officer - has also been appointed as deputy chief financial officer, with Schwartz holding his current position as chief financial officer through until the end of April next year.

Chavez will assume full responsibilities as chief financial officer as of April 2017, Goldman Sachs said.

Llloyd Blankfein, chief executive officer at Goldman Sachs, said those appointed to the new roles have “consistently demonstrated their unwavering commitment to Goldman Sachs, our clients and our people.”

Solomon was previously co-head of the investment banking division at Goldman Sachs, having joined the firm as a partner in 1999 and worked his way up the ladder.

Prior to Schwartz’s new position as co-chief operating officer, he was global co-head of the securities division, having been named a partner at Goldman Sachs in 2002. 

Former chief operating officer, Gary Cohn, departed the investment bank earlier this week following his appointment as director of the National Economic Council for Donald Trump’s administration.

Cohn has been tasked with designing and coordinating Trump’s economic policy, working alongside the Treasury and Commerce departments.

Trump said in a statement Cohn will “put his talents as a highly successful businessman to work for the American people.”