Goldman adds to Management Committee

Lloyd Fonzie Blankfein

Goldman Sachs promoted five senior executives to the management committee, including the heads of equity and credit trading, in the largest addition to its top leadership group since 2008.

Paul Russo, Michael Daffey, Justin Gmelich, Sarah Smith and Craig Broderick were named to the panel, which now has 34 members, according to employee memos obtained by Bloomberg News.

A day earlier, the New York-based firm named Ashok Varadhan, the 41-year-old chief of macro trading, as the third co-head of its trading division.

A half-decade after the financial crisis, Goldman Sachs is injecting new blood into its top management as the firm faces questions about key businesses amid a three-year revenue slump. The company also has seen departures in its trading units after efforts to cut costs and pay.

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