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Germany names Goldman Sachs exec to deputy finance minister post

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Germany names Goldman Sachs exec to deputy finance minister post

Jörg Kukies, co-head of Goldman Sachs Group Inc. in Germany and Austria, is set to be named deputy finance minister of Germany, the Financial Times reported March 19.

Kukies, who has served with Goldman Sachs for 17 years, will be responsible for financial markets and the European policy of the German finance ministry. A spokesman for the ministry noted that Kukies will also be in charge of "further securing the European banking sector and the other Europe dossiers," according to the FT.

Earlier in March, Olaf Scholz was named finance minister of Germany, as the country's next coalition government was taking shape.

Meanwhile, Goldman Sachs said Wolfgang Fink would now serve as the sole head of the U.S. lender in Germany and Austria, Reuters reported the same day.