The New York investment bank announced the move in a memo from CEO David Solomon, Chief Operating Officer John Waldron and CFO Stephen Scherr.
Chavez recently was serving as co-head of the securities division but previously had served a stint as CFO starting in 2017 and before that as chief information officer, responsible for technology.
"Marty has helped lead the securities division and has been at the forefront of the evolving market structure" in fixed-income and stock trading, according to the memo.
In a separate memo, Solomon and his deputies said Marc Nachmann, co-head of investment banking, will take over as co-head of the securities division alongside Ashok Varadhan and Jim Esposito. He joined Goldman in 1994.