Goldman Sachs added its president and chief working officer John Waldron to its board of administrators a month after he was given a retention bonus, cementing his place as a possible successor to CEO David Solomon.
Waldron, 55, joins Solomon, 63, because the second member of the administration committee to have a seat on the board.
“It does appear that firmer succession planning is underway,” mentioned Stephen Biggar, a banking analyst at Argus Analysis.
The bonuses, which vest in 5 years, have been awarded to Solomon and Waldron in an effort by Goldman’s board to retain high leaders, the financial institution mentioned final month.
Waldron, who has been president and chief working officer since October 2018, oversees the leaders of the financial institution’s three fundamental divisions. He beforehand served as co-head of funding banking, a task he assumed in 2014 after becoming a member of Goldman in 2000.
Gary Cohn, a former president of the agency, beforehand served as a director alongside Solomon’s predecessor, Lloyd Blankfein.
Cohn left Goldman in late 2016 to affix President Donald Trump’s first administration as an financial adviser and lead the White Home Nationwide Financial Council.
The financial institution additionally introduced on Wednesday it added Accenture’s Chief Monetary Officer KC McClure as an impartial director of the board.
Goldman Sachs earned its greatest quarterly revenue in additional than three years as its funding bankers introduced in additional deal charges, whereas its merchants benefited from lively markets, the corporate mentioned in January.
