Goldman Sachs shuffles management committee – WSJ

(Reuters) -Goldman Sachs is shuffling its management committee, in the latest indication of the power dynamics at the bank, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Firm veterans Alison Mass and George Lee have left the group, which comprises the heads of the bank’s main divisions and other top executives, the report said.

Goldman is also creating two new committees to help oversee investment banking and markets, the Journal’s report added.

The bank did not immediately respond to a Reuters request for comment.

The Wall Street behemoth merged its banking and trading division in 2022, in a shakeup that eventually shifted its focus back to the traditional mainstays and away from an ill-fated foray into consumer banking.

Earlier this week, Jim Esposito, co-head of Goldman Sachs’ global banking and markets division, announced plans to retire after almost three decades at the bank.

Other high-profile leaders have also left Goldman in recent months. Asset management executive Julian Salisbury joined investment firm Sixth Street, and Dina Powell McCormick (NYSE:), the former head of Goldman’s sovereign business, left for merchant bank BDT & MSD Partners.