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Marty Chavez, global co-head of securities unit, to retire from Goldman Sachs

R. Martin Chavez, Goldman Sachs Group Inc.'s global co-head of securities division, will retire from the investment banking giant at the end of 2019, according to an internal memo posted on CNBC.

He is set to become a senior director after his retirement. Chavez first joined Goldman Sachs in 1993. He left the company in 1997 before returning as a managing director in the investment banking division in 2005. He was named partner in 2006.

Goldman Sachs named Marc Nachmann to replace Chavez, according to a separate internal memo. Nachmann is co-head of the global investment banking division.