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The Wall Street Journal: Goldman promotions: Solomon and Schwartz to replace Cohn, Chavez to CFO

Goldman Sachs Group Inc. plans to elevate David Solomon and Harvey Schwartz to be top lieutenants to Chief Executive Lloyd Blankfein, according to people familiar with the matter, filling a void left by No. 2 executive Gary Cohn, who is leaving the bank to join the Trump administration.

The Wall Street powerhouse also is likely to name technology chief R. Martin Chavez as finance chief, Schwartz’s current job, the people said. An announcement on the promotions could be made as soon as Wednesday, the people said.

The promotions of Solomon, who co-heads Goldman’s investment-banking division, and Schwartz, its CFO since 2013, will bring about the most significant top-level management change at the firm in a decade.

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