Banking News

Goldman Sachs Announces new CFO

Goldman Sachs Announces new CFO

(16 September 2021 – United States) Goldman Sachs co-head of global financing group, Denis Coleman, has been named deputy CFO to succeed the group’s current CFO Stephen Scherr at the start of 2022.

CFO Stephen Scherr is stepping down from the role on 1 January 2022 and leaving the bank at the end of that month. Scherr will become a senior director with Goldman after 31 January 2022 however he is open to leadership positions at other companies, noting that the decision to leave was his own.

Denis Coleman joined Goldman Sachs in 1996 as an analyst in the bank loan group. Co-leading the global financing group has become a viable pathway to senior executive positions such as CFO.

Goldman Sachs is now the fourth of the six largest US bank majors to promote a new CFO this year, following JPMorgan, Morgan Stanley and BofA (Bank of America). Goldman Sach’s treasurer, Beth Hammack, will succeed Coleman as co-head of the global financing group while Phil Berlinski, a senior trading executive, will become treasurer,

"Denis has consistently proven himself through his strong judgment and operational capability across roles of increasing responsibility and we look forward to his contributions to the firm as Chief Financial Officer. His strong foundation across capital markets and risk management position him well to succeed as we seek to build on our momentum across our client franchise and deliver shareholder value” stated Goldman Sachs CEO, David Solomon.

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