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Goldman Beefs Up Management Team

Goldman Sachs has promoted three executives and added another layer to its management structure.

Lloyd Blankfein, Robert Kaplan and Robert Steel have all been appointed vice chairman by the world's largest securities firm in terms of capital.

Blankfein and Steel will share responsibility for the equities, fixed income and currency and commodities businesses.

Blankfein has been with the firm since 1982 and has been co-head of fixed-income, currency and commodities since 1997.

Steel came on board in 1976 and has run equities since 1998.

Kaplan, the former co-head of investment banking, will now be responsible for banking and investment management.

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