As part of a new restructuring plan, Goldman Sachs is creating a consumer and wealth-management unit that will be co-led by Stephanie Cohen and Tucker York starting in 2021. It’s also planning to combine the asset management and merchant banking businesses under the leadership of Eric Lane and Julian Salisbury.
Prior to Tuesday’s announcement, no woman was included in the top 12 executives in decision-making roles or leading money-making units, according to a Bloomberg report. (Trading co-head Isabelle Ealet left in 2018 when Lloyd Blankfein ended his tenure as CEO.
The news follows Citigroup’s selection of Jane Fraser to become CEO when Michael Corbat steps down early next year.
Cohen, who joined the firm in 1999, has been Goldman’s chief strategy officer since early 2018. York has been global head of wealth management for the past decade; he started at the firm in 1986 as a private wealth advisor.