Goldman Sachs Names Five to Join Company’s Management Committee

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(Bloomberg) -- Goldman Sachs Group Inc. added five bankers to its management committee, the most senior governing body at the Wall Street bank.

  • Tucker York, global head of private wealth management, and George Lee and Marco Argenti, the company’s co-chief information officers, are among those joining the panel, Chief Executive Officer David Solomon said Monday in a memo, showing the increased emphasis Goldman is placing on wealth management and technology.

Key Insights

  • Since taking the top job in 2018, Solomon has shuffled the top ranks of the firm and remade the management committee. The latest appointments -- including the appointment of Asahi Pompey, global head of corporate engagement -- follow a shakeup that began in July 2018, when Solomon made changes that included adding more women to the panel, an effort that continues with the naming of Pompey.
  • The firm said earlier Monday that Bentley de Beyer will join as head of human capital management after a decade at Johnson & Johnson. He’ll be a partner and have a role on the management committee.

Market Reaction

  • Goldman shares have gained 38% in the past year, outperforming the 27% increase in the S&P 500 index.

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  • The latest appointments “reflect the continued growth of our wealth management franchise around the world” and “our focus on advancing our engineering strategy to deliver differentiated solutions to our clients,” Solomon said in the memo.

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