Goldman Sachs elevates M&A and risk leaders, advances OneGS 3.0

Goldman Sachs put its M&A and risk chiefs onto its top management committee and gave Ericka Leslie the chief administrative officer job in a May 5 leadership update that tied the moves directly to OneGS 3.0. The changes showed where the firm is concentrating senior attention: dealmaking, control functions and the operating-model overhaul that Goldman says is meant to create more capacity for growth.

Stephan Feldgoise, head of global mergers and acquisitions, and Joshua Schiffrin, global head of risk for Global Banking & Markets, joined the Management Committee. David Solomon said the firm looked forward to benefiting from their leadership and expertise. Leslie’s new remit centered on progress toward OneGS 3.0, the firm’s push to transform its operating system rather than just trim costs or headcount.

The committee assignments matter as much as the titles. Goldman’s leadership page lists Feldgoise on the Management Committee and the Firmwide Client Franchise Committee, which puts the M&A chief close to the forum where client priorities get weighed. Schiffrin sits on the Management Committee and on several risk and control bodies, including the Firmwide Enterprise Risk Committee, the Firmwide Asset Liability Committee, the Regulatory Oversight Committee and the Firmwide Financial Crime Compliance Committee. Leslie is co-chair of the Partnership Committee and a member of both the Management Committee and the Enterprise Risk Committee.

That committee footprint gives the May 5 announcement a practical reading for employees: the firm is not just adding names, it is placing those names in the rooms where revenue, balance-sheet discipline and controls are decided. For bankers, that usually means the businesses closest to those leaders are more likely to get visibility, resources and sponsorship. For risk and operations staff, it signals that control functions remain central to how Goldman wants to run the franchise.

The update also fit into a broader reshaping of Goldman’s top ranks in 2026. The firm made another leadership update on January 26, adding more Management Committee members, and a May 2026 report put the committee at 47 members. Goldman’s 2025 annual report said One Goldman Sachs 3.0 was launched as a new operating model propelled by AI, aimed at making the firm more modern, digital and automated. In that same report, Goldman said net revenues rose 9 percent in 2025 to $58.3 billion, earnings per share rose 27 percent to $51.32 and return on equity improved to 15.0 percent, while Global Banking & Markets was positioned to benefit from an upswing in strategic activity.

Leslie’s profile also carries its own institutional signal. American Banker reported in 2025 that she joined Goldman in 1996 and had overseen the firm’s return-to-work policy after COVID, a role that made her a visible figure in one of the industry’s most contentious workplace debates. Her elevation to chief administrative officer suggests Goldman still sees operating discipline, workplace policy and internal coordination as part of the same management agenda now being reinforced from the top.