Goldman Sachs names Robert Kaplan as vice chairman

Goldman Sachs on Tuesday announced the appointment of Robert Kaplan, former president of the Federal Reserve Bank of Dallas, as its vice chairman, signalling a strategic move to bolster its leadership team.

In his new role, Kaplan will provide strategic counsel to Goldman Sachs' clients worldwide, collaborating closely with teams across global banking and markets, as well as asset and wealth management divisions, the bank stated.

CEO David Solomon highlighted Kaplan's extensive experience and global leadership expertise, emphasizing his valuable contributions to the firm as vice chairman. Kaplan, who previously spent over two decades at Goldman Sachs, brings a wealth of knowledge and deep relationships to his new position.

Goldman Sachs has been actively restructuring its leadership in recent times, aiming to reinforce its position in the financial industry. The addition of Kaplan follows the return of senior banking executive Tom Montag last year, as the firm seeks to strengthen its presence after its venture into consumer banking faced challenges.

While Goldman Sachs has experienced notable departures in the past months, including high-profile executives like Stephanie Cohen and Jim Esposito, Kaplan's appointment reflects the firm's commitment to leveraging top-tier talent to enhance client service and sustain its distinctive culture.

Expressing his enthusiasm for the opportunity, Kaplan stressed on his eagerness to collaborate with the talented teams at Goldman Sachs to serve clients effectively and contribute to the firm's ongoing success.

(With Reuters inputs)