Goldman Sachs shuffles management committee as two bankers exit

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

A source familiar with the matter told Reuters that company veterans Alison Mass and George Lee have left the group, which comprises the heads of the bank’s main divisions and other top executives.

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

“Final decisions haven’t been made and no one has yet been asked to join the management committee,” a spokesperson for the bank said in a statement.

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, the former head of Goldman’s sovereign business, left for merchant bank BDT & MSD Partners.