Goldman Expands Its Top Leadership Group Again Under Solomon

(Bloomberg) -- Goldman Sachs Group Inc. added three more executives to its senior-most governing body, in a second round of appointments after David Solomon’s elevation to the role of CEO.

• The new additions include Beth Hammack, the firm’s treasurer and now the eighth woman in the management committee, according to an internal memo Tuesday. James Paradise and Todd Leland, Goldman’s co-presidents in Asia outside Japan were also added to the group.

Key Insights

• The announcement highlighted Goldman’s eagerness to expand its franchise in the Asia-Pacific region, which produced 14% of the firm’s revenue last year.
• With the most recent additions, Goldman’s top group is now made up of 32 executives. In the early months, some executives speculated that Solomon could choose to downsize the group or even create a separate, smaller group of advisers. For now the CEO hasn’t pursued such a path.
• Still, a spate of departures from the trading division has kept the size of the committee relatively stable. It’s seen as the most influential group within the bank and acts as an advisory council to its C-suite.

Get More

• Last year, after Solomon’s ascent to the top was announced, Goldman added four executives to the committee.

©2019 Bloomberg L.P.