Stephanie Cohen to co-head consumer and wealth management at Goldman Sachs; becomes potential CEO successor

Banker Stephanie Cohen was appointed to lead the consumer and wealth management division at Goldman Sachs, a New York-based investment bank and financial services company. The 43-year-old is considered a potential successor to CEO David Soloman.

The development came after the Wall Street Bank’s chief executive David Solomon shuffled the executive ranks earlier this week. The CEO had reorganised its operations in January to focus to consumer market.

Regarding her last role as the Chief Content Strategy, Stephanie took to LinkedIn and shared,

“I have had the privilege to work closely with colleagues across the firm, including in Consumer and Wealth Management businesses. I’ve learned so much from engaging with our private wealth clients, Marcus customers, and founders and CEOs of transformational financial technology companies.”

She also highlighted the bank streamlining digital consumer capabilities, citing the issuance of Apple Card last year.

Stephanie started her career as an analyst at Goldman Sachs right after graduating from the University of Illinois at Urbana-Champaign in 1999. She rose through the ranks in the last two decades; from leading Mergers and Acquisition deals to becoming Global Head of General Industrials in 2011 and Global Head of Financial Sponsor M&A in 2015.

The year David Solomon was appointed as the CEO in 2018, Stephanie assumed the role of Chief Content Strategy and became the youngest banker in the management committee.

In 2015, she was listed among the 40 under 40 personalities by Fortune Magazine.

The banker, who also serves as a member of Board of Directors of CollegeSpring and Quill.org, is credited with driving women-focussed initiatives. In 2018, Stephanie led LAUNCH WITH GS, an initiative where Goldman Sachs committed $500 million to invest in women-led companies.

Earlier in April, the bank committed $300 million to help small businesses and communities to weather the financial and economic challenges posed by COVID-19.