Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Goldmans names strategy head as it eyes wealth opportunity

Goldmans names strategy head as it eyes wealth opportunity

Goldman Sachs has named Stephen Scherr as chief strategy officer.

According to the Financial Times, the appointment is an indication of Goldmans desire to grow its commercial and wealth management division.

In internal memos from Goldmans chief executive and chairman Lloyds Blanfein (pictured) seen by Wealth Manager, the appointment of Scherr - who has been head of the company's finance group since 2008 - was sent to staff on 2 June. 

'Stephen will work across the firm to develop and drive important growth initiatives as part of the firm’s global strategy,' the memo said.  

'As a long-tenured leader in the investment banking division, and as global head of the financing group since 2008, Stephen has a deep understanding of all of our businesses and of the needs of our clients.  As we advance the firm’s global strategy, Stephen will identify and help execute on opportunities to grow and build upon our strong client franchise across our core businesses. 

'As part of his role, we have asked Stephen to help coordinate our lending business as we leverage our existing bank platform to provide credit to both corporate and individual clients.

At the same time it was announced that Goldmans senior strategy officer Andrew Chisholm is to leave the firm after 30 years of service.

Goldmans confirmed the appointment of Scherr and the exit of Chisholm.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
CIO Tapes 2: two warnings and a lot of optimism

CIO Tapes 2: two warnings and a lot of optimism

Our group of leading asset management CIOs see a lot of opportunities – and overseas investors are buying UK too

Play Wealth Manager Retreat 2017: size isn't everything

Wealth Manager Retreat 2017: size isn't everything

We asked our delegates at the Wealth Manager Retreat what they think about the recent wave of consolidation in the industry.

1 Comment Play CIO Tapes - part 3: 'passive funds are anti-capitalist'

CIO Tapes - part 3: 'passive funds are anti-capitalist'

Citywire recently gathered three of the UK's leading fund investment heads to discuss their hopes, fears and the issues that their jobs throw at them daily.

Read More
Your Business: Cover Star Club

Profile: Kleinwort Hambros' boss on how to manage five banks

Profile: Kleinwort Hambros' boss on how to manage five banks

Welding together Kleinwort and Hambros – two of Britain’s most historic banks, founded in 1786 and 1839 respectively – was always going to be a challenge.

Wealth Manager on Twitter