Sideways: Goldman’s Varadhan looks lonely

The retirement of Goldman Sachs securities co-head Marty Chavez leaves trading veteran Ashok Varadhan looking isolated.

The dominance of the investment banking lieutenants of Goldman chief executive David Solomon at the top of the firm was reinforced on September 3 when Chavez was replaced as one of three global securities co-heads by Marc Nachmann, who had been a co-head of investment banking.

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Ashok Varadhan

Solomon has now installed two fellow former investment bankers in the roles of president and chief financial officer, and placed two former co-heads of global financing in joint charge of securities.

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