Goldman Sachs shakes up top ranks

Goldman Sachs plans to name John Waldron as its new president and Stephen Scherr as its new chief financial officer, with current CFO Marty Chavez transitioning to the bank's trading division, according to The Wall Street Journal.

Why it matters: David Solomon doesn't officially take the CEO reins from Lloyd Blankfein until next month, but he's already making his mark on bank leadership.