Solomon’s Wisdom Shows in Goldman’s CFO Move

By Anonymous

Goldman Sachs moves to replace a chief financial officer who had stumbled in the role

The shuffling of Goldman Sachs’s top management, particularly the change in the chief financial officer role, is an encouraging sign that incoming Chief Executive David Solomon is willing to correct past mistakes.

Goldman said Thursday that Stephen Scherr, head of the bank’s consumer- and commercial-lending operations, will become chief financial officer in November, replacing Martin Chavez, who will become co-head of the securities division along with two others.