Goldman Sachs adds M&A and risk leaders to Management Committee

Goldman Sachs moved two of its most consequential businesses closer to the firm’s center of power, elevating the heads of M&A and risk to the Management Committee while tying its administrative reset to OneGS 3.0.

The firm said Stephan Feldgoise, head of Global Mergers & Acquisitions, and Joshua Schiffrin, who will become global head of Risk for Global Banking & Markets, joined the committee as partners. Goldman also said Ericka Leslie will become chief administrative officer, a role linked directly to advancing OneGS 3.0, the firmwide effort to reshape its operating model and free up capacity for growth.

For Goldman employees, the message is clear: the bank wants dealmaking and control functions closer to the table where capital, headcount, and strategy are decided. Feldgoise brings the M&A franchise deeper into management at a moment when Goldman has been signaling confidence in the deal backdrop. In its 2026 M&A outlook, the firm said the back half of 2025 helped produce an exceptional year for mergers and acquisitions, rivaling the record volumes of 2021.

Schiffrin’s promotion does the same for risk, especially across trading, lending, and underwriting in Global Banking & Markets. Goldman has been operating in a market environment shaped by volatility, rate changes, and heightened scrutiny, and putting the head of risk on the Management Committee suggests those controls are being treated as a core part of execution, not a back-office afterthought. Goldman has also shown Schiffrin in firm media as chief strategy officer and head of financial risk for Global Banking & Markets, underscoring how closely strategy and risk have been linked.

Leslie’s expanded mandate is just as telling. Goldman said she will focus on OneGS 3.0, and its leadership page says she already sits on the Management Committee and the Enterprise Risk Committee. She previously led Operations and Platform Engineering for Global Markets and joined Goldman in 1996 as an associate in the Finance Division. That background fits a role aimed at simplifying workflows, tightening operating discipline, and shifting resources toward businesses with more growth potential.

The broader context is that Goldman has been steadily updating its top ranks. The firm said in 2025 and again in January 2026 that it was adding leaders to the Management Committee as part of wider leadership changes. It also reported third-quarter 2025 net revenues of $15.18 billion and net earnings of $4.10 billion, numbers that give management more room to push efficiency while still backing growth.

OneGS 3.0 has also been read internally as a productivity drive shaped by artificial intelligence. Reuters reported in October 2025 that the initiative included warnings of possible job cuts and a hiring slowdown through the end of 2025. Against that backdrop, Monday’s leadership changes look less like routine promotions and more like an organizational statement: Goldman wants faster decisions, tighter risk oversight, and stronger deal execution in the businesses it expects to matter most next.