Goldman Sachs CEO shuffles consumer banking, wealth management leaders

Goldman Sachs CEO David Solomon restructured several of its businesses and appointed new heads of the bank’s asset and consumer and asset management divisions.

The action, announced in company memo on Tuesday, made chief strategist Stephanie Cohen co-head of the company’s consumer banking and wealth management division, along with Tucker York. Cohen, a rising star at Goldman, will be the first woman to head a division at a New York bank since the departure of trader co-head Isabel Ialet in 2018.

Solomon’s actions are the latest changes he made to Goldman during his nearly two years at the bank. He divided the bank into four main divisions: investment banking, trading, asset management, consumer banking and wealth management.

Goldman is also merging its private equity operations with its money management division into a single asset management division, led by Eric Lane and Julian Salisbury.

The bank also announced that its head of consumer banking, Harit Talwar, is retiring after five years of experience building Marcus’ business from scratch. Omer Ismail, his deputy and 13-year-old Goldman veteran, becomes the head of Markus.

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