UPDATE 1-Goldman Sachs names Marty Chavez to management committee
Jan 22 (Reuters) - Goldman Sachs Group Inc named R. Martin Chavez, a quantitative analyst who co-heads the bank's equity trading business, to its management committee, according to an internal memo obtained by Reuters.
The committee helps the bank form its strategy and Chavez's appointment signals he may be in line for more senior positions in the future. Members of the management committee are hand-picked by Chief Executive Lloyd Blankfein and Chief Operating Officer Gary Cohn.
Chavez joined Goldman in 1993 as a senior quantitative analyst in its commodity and energy brokerage business, then known as J. Aron. He left in 1998 for a job at Credit Suisse and then launched a commodities risk-management technology company called Kiodex, which was eventually bought by SunGard.
In 2005, Harvey Schwartz, then head of the financing business at Goldman, wooed Chavez back to the bank. Schwartz will be chief financial officer at the end of this month, and also got his start at J. Aron, as did Blankfein and Cohn.
Chavez currently serves on the partnership committee, and represents Goldman as a director of the International Swaps and Derivatives Association, a lobbying group.
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