Goldman Sachs CEO David Solomon taps new generation of leaders in Wall Street revamp: ‘Very best'

Leadership Changes - Goldman Sachs CEO David Solomon promoted 15 senior executives to lead the firm's major business units, signaling a push for the next generation of leadership [1] - Erdit Hoxha, Cyril Goddeeris, and Dmitri Potishko were appointed to jointly run the equities division [3] - Kunal Shah, Anshul Sehgal, and Jason Brauth will lead the fixed-income unit, while Kim Posnett, Matt McClure, and Anthony Gutman will head the banking division [3] - Shah and Gutman were also named co-CEOs of Goldman Sachs International [4] - Richard Gnodde, 64, will step down from running the international business to become vice chairman, as the management committee expands to 39 members [6][9] CEO Compensation and Performance - CEO David Solomon received a $39 million pay packet in 2023 and an$80 million retention bonus if he remains for another five years [2] - Under Solomon's leadership, Goldman Sachs' stock price has surged nearly 50% over the past year and 174% since he took over in 2018 [7] Strategic Focus - Solomon has refocused the bank on traditional investment banking activities after significant losses in its consumer banking arm, Marcus [8] - The leadership revamp aligns with the bank's strategy to retain top talent and strengthen its core business units [1][2]