Goldman Sachs is restructuring its executive committee in the latest sign of power dynamics within the bank. The Wall Street Journal reported This was disclosed on Friday, citing a person familiar with the matter.
Veterans Alison Mass and George Lee have left the bank’s group of key department heads and other executives, sources told Reuters.
Goldman will also create two new committees to help with investment banking and market oversight, the paper added.
“A final decision has not yet been made and no one has yet been asked to join the management committee,” a bank spokeswoman said in a statement.
The Wall Street giant restructured in 2022 by merging its banking and trading divisions, ultimately shifting its focus from its ill-fated foray into consumer banking back to its traditional core businesses.
Earlier this week, Jim Esposito, co-head of Goldman Sachs’ global banking and markets division, announced plans to retire after nearly 30 years at the bank.
Other prominent leaders have also left Goldman in recent months. Wealth management executive Julian Salisbury has joined investment firm Sixth Street, while Dina Powell McCormick, head of Goldman’s sovereign business, has left to join merchant bank BDT & MSD Partners.
