Goldman Sachs Group Inc. has announced the promotion of Josh Schiffrin to chief strategy officer and head of financial risk for its global banking and markets division, as per a memo obtained by Bloomberg. Schiffrin, previously the global head of trading strategy, will now oversee the financial risk team, the FICC desk, and the prime risk strategies team. In his new role, he will provide risk analysis for Goldman’s prime brokerage clients and manage the strategy, investments, and partnerships team.
The memo from Ashok Varadhan and Dan Dees, co-heads of global banking and markets, emphasized Schiffrin’s responsibility for ensuring diligent supervision of trading activities and maintaining a robust control environment.
Schiffrin joined Goldman Sachs in 2001 as an analyst, was named managing director in 2009, and became a partner in 2012. In November 2023, he took on the role of global head of trading strategy. He has recently accurately predicted the Federal Reserve’s interest rate cut size and suggested the possibility of two additional cuts of 50 basis points.
“The employment data will lead the path of policy,” Schiffrin noted in a client webinar before the Fed’s rate decision on Sept. 18. He added, “The path of 50/50/50 is possible if labor remains weak and the unemployment rate ticks up.” He acknowledged the rapidly changing economic landscape, stating, “We are in unique times.”

I’m a finance writer with three years of experience in investment analysis. At Investorwelcome , I translate complex financial concepts into clear, actionable insights to help investors navigate the market with confidence. Combining my solid academic background with practical industry knowledge, I’m dedicated to providing readers with accurate and timely information. My goal is to empower both new and seasoned investors by simplifying intricate data and offering strategic advice. When I’m not writing, I stay engaged with market trends and investment innovations to ensure my content remains relevant and valuable.