Goldman Sachs Group has appointed Sarah Smith as global head of compliance. Smith, who is currently controller and chief accounting officer, will step into her new role in February.
She assumes the role from Alan Cohen, who is stepping down and will now serve as a senior adviser to Goldman's executive office, according to a firm memo provided to Fortune by Goldman Sachs. Cohen served as Goldman's compliance head for 13 years, after joining the bank in 2004 as a partner from law firm O'Melveny & Myers.
According to the firm’s memo, Smith will lead efforts to ensure that Goldman Sachs not only adheres to both the letter and spirit of the rules and regulatory requirements, but also considers the reputational consequences of everything the bank does, Fortune reported.
Smith joined Goldman in 1995 as a vice president of finance and held various positions before assuming the controller and chief accounting officer role in 2002. She was named managing director in 1998 and partner in 2002. Smith will be replaced by deputy controller Brian Lee.