Goldman Sachs is promoting Global M&A co-head Gregg Lemkau and financing group chief Marc Nachmann to join John Waldron as co-heads of the global investment banking division of Goldman Sachs. The news was announced on Monday in an internal memo. 

The changes come after Goldman last year elevated former banking co-head David Solomon to the firm's #2 position alongside CFO Harvey Schwartz, following Gary Cohn departure to join the Trump administration. Richard Gnodde, Waldman's current counterpart, will leave that position to become CEO of of Goldman Sachs International.

Gregg Lemkau, 47, who currently is has been with Goldman for 25, starting in 1992. He graduated Dartmouth in 1991. Mr. Lemkau's sister is chief marketing officer at JPMorgan. According to his LInkedIn profile, he previously served as: 

• COO, Investment Banking Division (2007-08)
• Co-Head of Global Technology, Media & Telecom Investment Banking (2008-11)
• Head of M&A for EMEA and Asia Pacific (2011-13)
• Co-Head of Global (2013-present) 

Marc Nachmann, a native of Germany, joined Goldman in 1994 after graduated from Weslyan College. According to his profile on the Goldman Sachs web site, Marc Nachmann is Head of the Global Financing Group and Head of Latin America for the firm. He serves as Co-Chair of the Investment Banking Division (IBD) Risk Committee. Mr. Nachmann is a member of the Management Committee, Firmwide Risk Committee, Firmwide Capital Committee, Firmwide Investment Policy Committee and IBD Executive Committee.

Mr. Nachmann has held various leadership positions within IBD since joining the firm in 1994. Prior to assuming his current role, he served as Co-Head of Global Natural Resources. Mr. Nachmann was named Managing Director in 2002 and Partner in 2004.