Meet the new heads of Goldman Sachs' investment bank

The US investment bank on Monday named Gregg Lemkau and Marc Nachmann as coheads of the unit alongside John Waldron.

Richard Gnodde, who had previously coheaded the unit with Waldron from London, will now focus on running the international business.

Goldman Sachs' investment bank ranked second by revenues in 2016, according to Dealogic, generating $4.9 billion for work on equity and debt deals and mergers and acquisitions.

The promotions are part of a chain reaction kicked off by Gary Cohn's move to take a role in President Trump's administration. The appointments were first reported by Liz Hoffman at The Wall Street Journal.

It's a swift rise for Lemkau and Nachmann. Here's what you need to know about the new leadership:

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