Goldman Sachs Adds 2 to Board, Total Now 14

By Angela Chen 

Goldman Sachs Group Inc. has appointed Mark O. Winkelman, a former Goldman executive, and Mark A. Flaherty to its board, bringing the total number of directors to 14.

The change is effective Dec. 18.

The retired Mr. Flaherty, 55, served as vice chairman of investment firm Wellington Management Company from 2011 to 2012, after having been director of global investment services. He was previously director of equity trading at health-care company Aetna Inc.

"Mark Flaherty's more than two decades of experience in investment management is a valuable addition to our board," said Goldman Sachs Chief Executive Lloyd C. Blankfein.

Mr. Winkelman, 68, is a former Goldman executive who was previously co-head of the fixed income division. He left the firm in 1994. Mr. Winkelman served as operating partner of investment firm J.C. Flowers & Co. from 2006 to 2008 and is now on the board of Anheuser-Busch InBev.

"Mark Winkelman has worked in a variety of different capacities in the capital markets and has demonstrated exceptional judgment, market knowledge and risk management during the course of his career," added Mr. Blankfein.

The additions come as Goldman Sachs' directors have stepped up their efforts to groom a new generation of leaders, broadening the list of executives who could eventually run the Wall Street firm.

The Wall Street Journal reported in July that Mr. Blankfein has been arranging private dinner meetings between younger managers and the directors that are designed to showcase the executives' expertise on a variety of topics.

Write to Angela Chen at [e-mail]

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