Goldman Shakes Up Leadership Ranks in Yet Another Overhaul
- CEO unwinds key changes from previous restructuring in 2020
- Bank strips down consumer-banking business after missed goals
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Goldman Sachs Group Inc.’s David Solomon is embarking on his third major reorganization in just four years as chief executive officer -- undoing some of the signature moves he made as recently as 2020 and spotlighting a new class of his most senior lieutenants.
The Wall Street giant plans to once again combine its expanded asset-management and private-wealth businesses into one unit run by Marc Nachmann, according to people familiar with the matter. Goldman will also fuse its investment-banking and trading operations under one group run by Dan Dees, Jim Esposito and Ashok Varadhan. The money-losing consumer unit will be broken up.