Goldman Sachs Group Inc. is nominating veteran banker Tom Montag to its board, tapping a prominent alum for company oversight at a time when discontent in the firm’s ranks has attracted public attention.
(Bloomberg) — Goldman Sachs Group Inc. is nominating veteran banker Tom Montag to its board, tapping a prominent alum for company oversight at a time when discontent in the firm’s ranks has attracted public attention.
The Goldman board’s corporate governance and nominating committee recommended that the board vote on Montag’s appointment at its next meeting, the New York-based bank said in a regulatory filing Thursday. Board approval is needed for the appointment to take effect.
Montag is seen as an ally to Goldman Chief Executive Officer David Solomon, and his appointment would serve as a signal of support at a time of speculation about the CEO’s immediate future as he approaches five years running the firm. Frustrations inside Goldman have become increasingly public, intensifying in recent months during a slowdown in its core business lines.
Bloomberg News reported earlier this week that Goldman was planning to add Montag, 66, to its board.
Read More: Goldman Taps Montag for Board Amid Disquiet in Bank’s Ranks
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