Goldman Sachs appoints new generation to lead major Wall Street divisions

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Goldman Sachs has unveiled a new generation of leadership in a major shakeup at the Wall Street bank.

Goldman Sachs said on Tuesday it would name new global heads of equities, fixed income and banking, as it shakes up the leadership of its international unit.

The changes underscore Goldman’s efforts to refresh its leadership and prepare for future challenges as the firm responds to changing market dynamics while also looking to capitalize on a period of deregulation under the Trump administration.

Erdit Hoxha, Cyril Goddeeris and Dmitri Potishko will be responsible for the equities division. Kunal Shah, Anshul Sehgal and Jason Brauth will lead the fixed income group. Meanwhile, Kim Posnett, Matt McClure and Anthony Gutman have been appointed to oversee investment banking.

In a major transition, Shah and Gutman will also serve as co-executives of Goldman Sachs International. They replace 64-year-old banking veteran Richard Gnodde, who is stepping down after more than a decade leading international operations. Gnodde will assume the role of Vice Chairman.

“This group of leaders represents the best of our culture of excellence, customer service and teamwork. They have made outstanding contributions throughout their careers to our customer franchises, operations and market leadership across the business.

This is a development story