Goldman Sachs Group Inc. intends to promote CFO Harvey Schwartz and David Solomon, co-head of the investment banking division, to succeed President and COO Gary Cohn, The Wall Street Journal reported, citing "people familiar with the matter."

Cohn is leaving the bank to become President-elect Donald Trump's chief economic adviser.

Chief Information Officer R. Martin Chavez is also likely to take on Schwartz's current CFO role, according to the report.

The promotions could be announced as soon as Dec. 14, the Journal said.