Goldman Sachs names Carey Halio head of its banking unit

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Goldman Sachs has named Carey Halio, an 18-year veteran of the New York company, as CEO of its lending and deposit-taking division.

Goldman announced the promotion Monday in an internal memo from CEO Lloyd Blankfein and President David Solomon, a copy of which was shared with American Banker. The promotion takes effect Oct. 1.


The promotion comes as Solomon, who is slated to take the helm after Blankfein retires next month, continues to shape his leadership team. Goldman last week named John Waldron, an investment banking executive, as president and chief operating officer. Stephen Scherr, the current president of the banking unit, was named chief financial officer.

Halio has served as chief financial officer of Goldman Sachs Bank USA for the past four years, and she previously worked in the company’s credit risk division. In her new role, she will report to Scherr.

As CEO of the bank — which has $177 billion in assets — Halio will take a leading role in the company’s efforts to expand its deposit base, including by attracting deposits from retail customers.

Goldman’s online bank, which operates under the brand Marcus, currently has about $26 billion in deposits, according to the company.

Halio will also oversee the bank’s capital planning and regulatory affairs, and will serve as chair of the banking division’s management committee.

Prior to joining Goldman in 2000, she served as a Peace Corps volunteer
in Guatemala, focusing on microfinance for women.

Here is a copy of the memo:

September 17, 2018
Carey Halio to Become Chief Executive Officer of Goldman Sachs Bank USA

We are pleased to announce that Carey Halio will become chief executive officer of Goldman Sachs Bank USA, reporting to Stephen Scherr in his role as chief financial officer of the firm. As she assumes responsibility for the operations of the bank, Carey will continue to work alongside Esta Stecher, who remains chair of the bank board.

Carey will oversee the bank’s capital and liquidity planning, vendor management, infrastructure, operational and financial risk, as well as regulatory matters relating to the bank. She will remain a director of Goldman Sachs Bank USA and will now become chair of the bank’s Management Committee, which comprises the leadership of businesses transacting in the bank across the firm’s divisions. Carey will also work closely with firmwide Treasury in regard to liquidity management and capital matters.

Carey currently serves as chief financial officer of Goldman Sachs Bank USA and also has oversight of the Bank Management team. She chairs the Goldman Sachs Bank USA Asset Liability Committee and serves on several other committees, including the Firmwide Finance Committee and Goldman Sachs Bank USA Management Committee.

Prior to assuming her current role, Carey was head of Credit Risk Management & Advisory for the Securities Division and Financial Institutions in the Americas. She joined Goldman Sachs in 1999 as a summer associate in the Credit Department in New York and rejoined the firm in 2000 in the same group. She was named managing director in 2009 and partner in 2016.

Please join us in wishing Carey success in her new role.

Lloyd C. Blankfein
David M. Solomon

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