Macaskill on markets: Can Tom Montag save Goldman Sachs’ DJ D-Sol?

Veteran banker Tom Montag is to join the board of Goldman Sachs in a bid to bolster support for embattled chief executive David Solomon. Weak second quarter earnings could make this task harder.

Mutiny was in the air in June. In Russia, Vladimir Putin survived an attempted coup by caterer-turned-mercenary leader Yevgeny Prigozhin. On Wall Street, a less consequential but still fiercely contested struggle was under way for the future of Goldman Sachs.

A series of media reports cited dissatisfaction among existing and former managers at the bank with the leadership of chief executive David Solomon.

This conflict has been rumbling on for some time, with Solomon’s side gig as DJ D-Sol often used as an excuse for critics to complain about his management style.

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